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Record Q1 profit falls YOY

Manufactura de Metales y Aluminio Record SA said its first-quarter normalized net income was 2 Peruvian céntimos per share, a decrease of 6.2% from 3 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 836,880 soles, a decline of 6.2% from 891,880 soles in the prior-year period.

The normalized profit margin fell to 3.5% from 4.3% in the year-earlier period.

Total revenue decreased 17.1% year over year to 17.2 million soles from 20.8 million soles, and total operating expenses fell 18.0% year over year to 15.8 million soles from 19.3 million soles.

Reported net income declined 31.5% on an annual basis to 977,000 soles, or 3 céntimos per share, from 1.4 million soles, or 4 céntimos per share.

As of April 30, US$1 was equivalent to 3.13 soles.