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Alicorp profit beats consensus by 16.6% in Q1

Alicorp S.A.A. said its normalized net income for the first quarter came to 6 Peruvian céntimos per share, compared with the S&P Capital IQ consensus estimate of 6 céntimos per share.

EPS rose year over year from 2 céntimos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.8 million soles, a gain from 14.6 million soles in the year-earlier period.

The normalized profit margin increased to 3.8% from 1.0% in the year-earlier period.

Total revenue fell year over year to 1.44 billion soles from 1.51 billion soles, and total operating expenses fell 5.8% from the prior-year period to 1.31 billion soles from 1.40 billion soles.

Reported net income grew from the prior-year period to 56.1 million soles, or 7 céntimos per share, from 20.6 million soles, or 2 céntimos per share.

As of April 27, US$1 was equivalent to 3.29 soles.