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Agroindustrias San Jacinto swings to loss in Q1

Agroindustrias San Jacinto SAA said its normalized net income for the first quarter amounted to a loss of 1.1 million soles, compared with income of 196,880 soles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 2.6% from 0.6% in the year-earlier period.

Total revenue climbed 27.2% on an annual basis to 43.5 million soles from 34.2 million soles, and total operating expenses increased 18.9% from the prior-year period to 37.1 million soles from 31.2 million soles.

Reported net income came to a loss of 1.7 million soles, or a loss of 6 céntimos per share, compared to income of 340,000 soles, or 1 céntimos per share, in the prior-year period.

As of April 30, US$1 was equivalent to 3.13 soles.