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Agroindustrial Pomalca Q1 loss widens 19.1% YOY

Empresa Agroindustrial Pomalca SAA said its normalized net income for the first quarter amounted to a loss of 1 Peruvian céntimos per share, compared with a loss of 1 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 a loss of 4.1 million soles, compared with a loss of 3.4 million soles in the prior-year period.

The normalized profit margin rose to negative 24.2% from negative 31.8% in the year-earlier period.

Total revenue grew 56.3% on an annual basis to 16.9 million soles from 10.8 million soles, and total operating expenses grew 46.5% on an annual basis to 22.6 million soles from 15.4 million soles.

Reported net income came to a loss of 6.5 million soles, or a loss of 2 céntimos per share, compared to a loss of 6.3 million soles, or a loss of 2 céntimos per share, in the prior-year period.

As of April 29, US$1 was equivalent to 3.27 soles.