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Record swings to profit in Q3

Manufactura de Metales y Aluminio Record S.A. said its normalized net income for the third quarter amounted to 285,000 soles, compared with a loss of 316,880 soles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.6% from negative 1.9% in the year-earlier period.

Total revenue grew 9.0% on an annual basis to 18.2 million soles from 16.7 million soles, and total operating expenses grew on an annual basis to 17.5 million soles from 17.1 million soles.

Reported net income totaled 456,000 soles, or 1 céntimos per share, compared to a loss of 507,000 soles, or a loss of 1 céntimos per share, in the year-earlier period.

As of Oct. 26, US$1 was equivalent to 3.36 soles.