Sociedad Agrícola La Rosa Sofruco SA said its normalized net income for the first quarter was 87.47 Chilean pesos per share, a gain of 8.8% from 80.42 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 962.1 million pesos, a gain of 8.8% from 884.6 million pesos in the prior-year period.

The normalized profit margin climbed to 10.4% from 8.9% in the year-earlier period.

Total revenue fell 7.5% on an annual basis to 9.24 billion pesos from 9.99 billion pesos, and total operating expenses fell 8.3% from the prior-year period to 6.97 billion pesos from 7.60 billion pesos.

Reported net income increased 14.5% from the prior-year period to 1.69 billion pesos, or 153.19 pesos per share, from 1.47 billion pesos, or 133.82 pesos per share.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.