Cerveceria San Juan SA said its fourth-quarter normalized net income was 26 Peruvian céntimos per share, a decrease of 22.1% from 34 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.6 million soles, a decline of 22.1% from 32.9 million soles in the year-earlier period.

The normalized profit margin declined to 14.5% from 20.1% in the year-earlier period.

Total revenue grew 6.8% year over year to 175.0 million soles from 163.9 million soles, and total operating expenses grew 19.8% from the prior-year period to 132.8 million soles from 110.8 million soles.

Reported net income fell 24.7% year over year to 27.9 million soles, or 28 céntimos per share, from 37.0 million soles, or 38 céntimos per share.

For the year, the company's normalized net income totaled 1.07 soles per share, an increase of 5.4% from 1.01 soles per share in the prior year.

Normalized net income was 104.7 million soles, a rise of 5.4% from 99.4 million soles in the prior year.

Full-year total revenue increased 8.1% year over year to 597.6 million soles from 552.7 million soles, and total operating expenses increased 8.5% on an annual basis to 426.4 million soles from 393.1 million soles.

The company said reported net income increased 5.3% year over year to 118.9 million soles, or 1.21 soles per share, in the full year, from 112.9 million soles, or 1.15 soles per share.

As of Feb. 23, US$1 was equivalent to 3.53 soles.