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Empresa Agrí­cola San Juan swings to loss in Q1

Empresa Agrícola San Juan SA said its first-quarter normalized net income was a loss of 1.0 million soles, compared with income of 102,500 soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 53.9% from 1.6% in the year-earlier period.

Total revenue fell 70.3% on an annual basis to 1.9 million soles from 6.3 million soles, and total operating expenses fell 66.7% on an annual basis to 1.9 million soles from 5.6 million soles.

Reported net income came to a loss of 1.6 million soles, or a loss of 3 céntimos per share, compared to income of 164,000 soles, or 0 céntimos per share, in the year-earlier period.

As of April 30, US$1 was equivalent to 3.13 soles.