Alimentos Derivados de la Caña S. A. said its normalized net income for the first quarter came to 9.94 Colombian pesos per share, a gain of 89.9% from 5.23 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 162.4 million pesos, a gain of 49.4% from 108.7 million pesos in the year-earlier period.

The normalized profit margin climbed to 12.7% from 8.3% in the year-earlier period.

Total revenue declined year over year to 1.28 billion pesos from 1.30 billion pesos, and total operating expenses grew year over year to 776.2 million pesos from 757.2 million pesos.

Reported net income grew 45.2% year over year to 252.5 million pesos, or 15.45 pesos per share, from 173.9 million pesos, or 8.37 pesos per share.

As of June 30, US$1 was equivalent to 2,591.77 Colombian pesos.