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Agroindustrial Laredo Q1 profit climbs YOY

Agroindustrial Laredo S.A.A. said its first-quarter normalized net income amounted to 36 Peruvian céntimos per share, a gain from 11 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 4.2 million soles, an increase from 1.3 million soles in the prior-year period.

The normalized profit margin climbed to 6.8% from 2.1% in the year-earlier period.

Total revenue totaled 61.7 million soles, compared with 61.5 million soles in the prior-year period, and total operating expenses totaled 56.4 million soles, compared with 56.0 million soles in the year-earlier period.

Reported net income grew 77.9% on an annual basis to 5.5 million soles, or 48 céntimos per share, from 3.1 million soles, or 27 céntimos per share.

As of May 13, US$1 was equivalent to 3.33 soles.