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Agroindustrias San Jacinto swings to loss in Q2

Agroindustrias San Jacinto SAA said its normalized net income for the second quarter was a loss of 8 Peruvian céntimos per share, compared with 2 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 2.2 million soles, compared with income of 651,880 soles in the prior-year period.

The normalized profit margin declined to negative 7.6% from 1.8% in the year-earlier period.

Total revenue grew 30.4% on an annual basis to 46.2 million soles from 35.4 million soles, and total operating expenses grew 30.2% from the prior-year period to 43.0 million soles from 33.0 million soles.

Reported net income totaled a loss of 4.5 million soles, or a loss of 16 céntimos per share, compared to income of 1.8 million soles, or 6 céntimos per share, in the year-earlier period.

As of July 30, US$1 was equivalent to 3.18 soles.