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Gloria SA Q1 profit falls YOY

Gloria SA said its first-quarter normalized net income came to 10 Peruvian céntimos per share, a decrease of 30.1% from 14 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 42.2 million soles, a decline of 30.0% from 60.3 million soles in the year-earlier period.

The normalized profit margin fell to 4.0% from 6.2% in the year-earlier period.

Total revenue grew 8.2% year over year to 1.05 billion soles from 968.9 million soles, and total operating expenses increased 11.5% on an annual basis to 964.0 million soles from 864.4 million soles.

Reported net income decreased 32.5% year over year to 44.8 million soles, or 11 céntimos per share, from 66.4 million soles, or 16 céntimos per share.

As of May 15, US$1 was equivalent to 3.15 soles.