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Alicorp profit misses consensus by 82.0% in Q2

Alicorp S.A.A. said its normalized net income for the second quarter amounted to 1 Peruvian céntimos per share, compared with the S&P Capital IQ consensus estimate of 8 céntimos per share.

EPS fell 79.5% year over year from 7 céntimos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.3 million soles, a decrease of 79.5% from 60.0 million soles in the prior-year period.

The normalized profit margin dropped to 0.8% from 3.8% in the year-earlier period.

Total revenue climbed on an annual basis to 1.64 billion soles from 1.56 billion soles, and total operating expenses increased 6.3% on an annual basis to 1.52 billion soles from 1.43 billion soles.

Reported net income decreased 88.3% from the prior-year period to 8.1 million soles, or 1 céntimos per share, from 68.9 million soles, or 8 céntimos per share.

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