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Lima Caucho swings to loss in Q2

Lima Caucho SA said its normalized net income for the second quarter came to a loss of 2.4 million soles, compared with income of 149,380 soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 12.6% from 0.5% in the year-earlier period.

Total revenue decreased 39.0% on an annual basis to 18.9 million soles from 30.9 million soles, and total operating expenses fell 29.3% from the prior-year period to 20.8 million soles from 29.5 million soles.

Reported net income came to a loss of 3.8 million soles, or a loss of 18 céntimos per share, compared to income of 239,000 soles, or 1 céntimos per share, in the prior-year period.

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