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Brasil Agro fiscal Q2 loss narrows YOY

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 1 Brazilian centavos per share, compared with a loss of 2 centavos 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 880,000 reais, compared with a loss of 1.4 million reais in the prior-year period.

The normalized profit margin climbed to negative 4.1% from negative 38.5% in the year-earlier period.

Total revenue climbed on an annual basis to 21.3 million reais from 3.7 million reais, and total operating expenses grew from the prior-year period to 31.7 million reais from 12.1 million reais.

Reported net income totaled 1.2 million reais, or 2 centavos per share, compared to a loss of 1.4 million reais, or a loss of 2 centavos per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 2.83 reais.