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Agro Industrial Paramonga Q1 loss narrows YOY

Agro Industrial Paramonga SAA said its first-quarter normalized net income came to a loss of 1 Peruvian céntimos per share, compared with a loss of 1 céntimos 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 351,880 soles, compared with a loss of 392,500 soles in the year-earlier period.

The normalized profit margin rose to negative 0.3% from negative 0.9% in the year-earlier period.

Total revenue increased 8.3% year over year to 48.0 million soles from 44.3 million soles, and total operating expenses came to 43.1 million soles, compared with 42.7 million soles in the year-earlier period.

Reported net income came to a loss of 522,000 soles, or a loss of 2 céntimos per share, compared to a loss of 532,000 soles, or a loss of 2 céntimos per share, in the prior-year period.

As of May 15, US$1 was equivalent to 3.15 soles.