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KSG Agro Q1 loss narrows YOY

KSG Agro S.A. said its first-quarter normalized net income was a loss of 4 cents per share, compared with a loss of 33 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 a loss of $561,130, compared with a loss of $4.9 million in the year-earlier period.

The normalized profit margin rose to negative 12.0% from negative 203.3% in the year-earlier period.

Total revenue climbed 91.7% on an annual basis to $4.7 million from $2.4 million, and total operating expenses rose 8.8% from the prior-year period to $3.8 million from $3.5 million.

Reported net income totaled a loss of $1.1 million, or a loss of 7 cents per share, compared to a loss of $8.3 million, or a loss of 56 cents per share, in the year-earlier period.