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Sociedad Agrí­cola La Rosa Sofruco swings to loss in Q3

Sociedad Agrícola La Rosa Sofruco SA said its normalized net income for the third quarter amounted to a loss of 70.80 Chilean pesos per share, compared with 55.70 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 778.7 million pesos, compared with income of 612.8 million pesos in the prior-year period.

The normalized profit margin declined to negative 11.6% from 7.5% in the year-earlier period.

Total revenue decreased 17.1% year over year to 6.73 billion pesos from 8.12 billion pesos, and total operating expenses increased 7.5% from the prior-year period to 6.42 billion pesos from 5.97 billion pesos.

Reported net income came to a loss of 937.4 million pesos, or a loss of 85.22 pesos per share, compared to income of 455.6 million pesos, or 41.41 pesos per share, in the prior-year period.

As of Nov. 24, US$1 was equivalent to 710.25 Chilean pesos.