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Lima Caucho swings to profit in Q2

Lima Caucho SA said its second-quarter normalized net income came to 5 Peruvian céntimos per share, compared with a loss of 11 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 1.1 million soles, compared with a loss of 2.4 million soles in the year-earlier period.

The normalized profit margin rose to 4.4% from negative 12.6% in the year-earlier period.

Total revenue increased 29.3% year over year to 24.4 million soles from 18.9 million soles, and total operating expenses increased 8.5% on an annual basis to 22.6 million soles from 20.8 million soles.

Reported net income came to 1.7 million soles, or 8 céntimos per share, compared to a loss of 3.8 million soles, or a loss of 18 céntimos per share, in the year-earlier period.

As of July 27, US$1 was equivalent to 3.36 soles.