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Pomifrutas Q1 loss narrows YOY

Pomifrutas SA said its first-quarter normalized net income amounted to a loss of 25 Brazilian centavos per share, compared with a loss of 61 centavos 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 2.3 million reais, compared with a loss of 4.5 million reais in the prior-year period.

The normalized profit margin increased to negative 9.7% from negative 59.9% in the year-earlier period.

Total revenue increased 49.5% on an annual basis to 11.3 million reais from 7.6 million reais, and total operating expenses declined on an annual basis to 11.6 million reais from 11.9 million reais.

Reported net income came to a loss of 3.5 million reais, or a loss of 39 centavos per share, compared to a loss of 7.1 million reais, or a loss of 96 centavos per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 3.51 reais.