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KSG Agro swings to profit in Q2

KSG Agro S.A. said its normalized net income for the second quarter amounted to 9 cents per share, compared with a loss of 20 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.4 million, compared with a loss of $3.0 million in the year-earlier period.

The normalized profit margin rose to 56.5% from negative 113.3% in the year-earlier period.

Total revenue declined 7.4% on an annual basis to $2.5 million from $2.7 million.

Reported net income rose 25.5% from the prior-year period to $3.2 million, or 21 cents per share, from $2.5 million, or 17 cents per share.