Empresa Agrícola San Juan S.A. said its fourth-quarter normalized net income came to 539,380 soles, a decrease of 77.1% from 2.4 million soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.2% from 6.2% in the year-earlier period.

Total revenue climbed 22.1% on an annual basis to 46.6 million soles from 38.2 million soles, and total operating expenses grew 37.5% year over year to 44.9 million soles from 32.6 million soles.

Reported net income decreased 73.5% year over year to 615,000 soles, or 1 céntimos per share, from 2.3 million soles, or 4 céntimos per share.

For the year, the company's normalized net income totaled a loss of 1 céntimos per share, compared with 4 céntimos per share in the prior year.

Normalized net income was a loss of 811,250 soles, compared with income of 2.6 million soles in the prior year.

Full-year total revenue decreased year over year to 59.6 million soles from 61.7 million soles, and total operating expenses increased 6.4% on an annual basis to 56.6 million soles from 53.2 million soles.

The company said reported net income totaled a loss of 1.5 million soles, or a loss of 3 céntimos per share, in the full year, compared with income of 2.7 million soles, or 4 céntimos per share, the prior year.

As of April 15, US$1 was equivalent to 3.28 soles.