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Alimentos Derivados de la Caña H1 loss widens YOY

Alimentos Derivados de la Caña S. A. said its first-half normalized net income was a loss of 22.09 Colombian pesos per share, compared with a loss of 10.25 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 361.0 million pesos, compared with a loss of 167.5 million pesos in the prior-year period.

Total revenue declined 20.8% on an annual basis to 1.49 billion pesos from 1.88 billion pesos, and total operating expenses increased 17.0% year over year to 1.66 billion pesos from 1.42 billion pesos.

Reported net income totaled 1.08 billion pesos, or 66.08 pesos per share, compared to a loss of 307.4 million pesos, or a loss of 18.81 pesos per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 2,932.09 Colombian pesos.