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Pomifrutas Q3 loss narrows YOY

Pomifrutas S/A said its third-quarter normalized net income amounted to a loss of 19 Brazilian centavos per share, compared with a loss of 30 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.4 million reais, compared with a loss of 5.2 million reais in the year-earlier period.

The normalized profit margin increased to negative 19.1% from negative 45.4% in the year-earlier period.

Total revenue climbed 20.0% year over year to 13.9 million reais from 11.6 million reais, and total operating expenses fell year over year to 16.7 million reais from 17.3 million reais.

Reported net income totaled a loss of 5.5 million reais, or a loss of 31 centavos per share, compared to a loss of 8.3 million reais, or a loss of 47 centavos per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to 3.49 reais.