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Corporacií³n Cervesur profit holds mostly steady YOY in Q1

Corporación Cervesur SAA said its normalized net income for the first quarter was 12 Peruvian céntimos per share, compared with 12 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.0 million soles, compared with 3.0 million soles in the year-earlier period.

The normalized profit margin declined to 2.5% from 2.7% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to 119.9 million soles from 113.6 million soles, and total operating expenses grew 5.1% year over year to 110.8 million soles from 105.4 million soles.

Reported net income grew on an annual basis to 4.8 million soles, or 19 céntimos per share, from 4.6 million soles, or 19 céntimos per share.

As of May 15, US$1 was equivalent to 3.15 soles.