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Inversiones Nacionales de Turismo swings to profit in Q1

Inversiones Nacionales de Turismo S.A. said its normalized net income for the first quarter amounted to 2 Peruvian céntimos per share, compared with a loss of 5 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 1.4 million soles, compared with a loss of 3.7 million soles in the prior-year period.

The normalized profit margin rose to 2.5% from negative 8.5% in the year-earlier period.

Total revenue climbed 26.7% on an annual basis to 55.7 million soles from 44.0 million soles, and total operating expenses grew 13.8% on an annual basis to 51.2 million soles from 45.0 million soles.

Reported net income came to 2.2 million soles, or 3 céntimos per share, compared to a loss of 5.9 million soles, or a loss of 8 céntimos per share, in the prior-year period.

As of April 28, US$1 was equivalent to 3.28 soles.