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Agroindustrias San Jacinto swings to profit in Q1

Agroindustrias San Jacinto SAA said its normalized net income for the first quarter came to 33 Peruvian céntimos per share, compared with a loss of 4 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.5 million soles, compared with a loss of 1.1 million soles in the prior-year period.

The normalized profit margin rose to 12.4% from negative 2.6% in the year-earlier period.

Total revenue climbed 32.3% on an annual basis to 57.5 million soles from 43.5 million soles, and total operating expenses grew 17.7% year over year to 43.6 million soles from 37.1 million soles.

Reported net income came to 12.8 million soles, or 45 céntimos per share, compared to a loss of 1.7 million soles, or a loss of 6 céntimos per share, in the prior-year period.

As of April 29, US$1 was equivalent to 3.27 soles.