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Apollo Global Capital swings to loss in Q1

Apollo Global Capital Inc. said its first-quarter normalized net income amounted to a loss of 455,180 pesos, compared with income of 1.0 million pesos in the prior-year period.

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

Reported net income totaled a loss of 728,300 pesos, or a loss of 0 centavos per share, compared to income of 1.3 million pesos, or 0 centavos per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 46.47 Philippine pesos.