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Cartavio Q2 loss widens YOY

Cartavio SAA said its second-quarter normalized net income came to a loss of 21 Peruvian céntimos per share, compared with a loss of 10 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 a loss of 4.8 million soles, compared with a loss of 2.1 million soles in the prior-year period.

The normalized profit margin increased to negative 4.3% from negative 4.8% in the year-earlier period.

Total revenue rose 44.5% on an annual basis to 65.3 million soles from 45.2 million soles, and total operating expenses rose 42.6% year over year to 68.8 million soles from 48.3 million soles.

Reported net income came to a loss of 908,000 soles, or a loss of 4 céntimos per share, compared to a loss of 2.6 million soles, or a loss of 13 céntimos per share, in the year-earlier period.

As of July 30, US$1 was equivalent to 3.18 soles.