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Empresa Azucarera el Ingenio Q4 profit falls YOY

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Empresa Azucarera el Ingenio Q4 profit falls YOY

Empresa Azucarera el Ingenio SA said its fourth-quarter normalized net income amounted to 11 Peruvian céntimos per share, a decrease of 36.4% from 17 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 473,750 soles, a decrease of 35.7% from 736,250 soles in the prior-year period.

The normalized profit margin rose to 58.1% from 36.6% in the year-earlier period.

Total revenue increased 11.6% year over year to 2.2 million soles from 2.0 million soles, and total operating expenses climbed 39.6% year over year to 2.4 million soles from 1.7 million soles.

Reported net income increased year over year to 526,000 soles, or 12 céntimos per share, from 138,000 soles, or 3 céntimos per share.

For the year, the company's normalized net income totaled 25 céntimos per share, an increase of 24.1% from 20 céntimos per share in the prior year.

Normalized net income was 1.1 million soles, an increase of 24.1% from 872,500 soles in the prior year.

Full-year total revenue grew 19.1% from the prior-year period to 8.1 million soles from 6.8 million soles, and total operating expenses grew 15.5% year over year to 7.2 million soles from 6.3 million soles.

The company said reported net income rose year over year to 1.4 million soles, or 31 céntimos per share, in the full year, from 317,000 soles, or 7 céntimos per share.

As of April 15, US$1 was equivalent to 3.28 soles.