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Corporacií³n Lindley swings to loss in Q1

Corporación Lindley SA said its first-quarter normalized net income was a loss of 2 Peruvian céntimos per share, compared with 2 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 14.5 million soles, compared with income of 11.5 million soles in the prior-year period.

The normalized profit margin dropped to negative 2.3% from 1.9% in the year-earlier period.

Total revenue climbed 6.2% on an annual basis to 636.8 million soles from 599.7 million soles, and total operating expenses climbed 5.9% from the prior-year period to 571.6 million soles from 539.9 million soles.

Reported net income came to a loss of 21.4 million soles, or a loss of 3 céntimos per share, compared to income of 11.6 million soles, or 2 céntimos per share, in the prior-year period.

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