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Record Q1 profit climbs YOY

Manufactura de Metales y Aluminio Record S.A. said its first-quarter normalized net income amounted to 4 Peruvian céntimos per share, a gain from 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 1.5 million soles, an increase from 610,630 soles in the year-earlier period.

The normalized profit margin rose to 5.0% from 3.5% in the year-earlier period.

Total revenue climbed 38.5% year over year to 23.9 million soles from 17.2 million soles, and total operating expenses increased 30.7% on an annual basis to 21.1 million soles from 16.1 million soles.

Reported net income grew 93.1% year over year to 1.9 million soles, or 5 céntimos per share, from 977,000 soles, or 3 céntimos per share.

As of April 29, US$1 was equivalent to 3.27 soles.