Empresa Agrícola San Juan S.A. said its second-quarter normalized net income came to a loss of 1.1 million soles, compared with income of 72,500 soles in the year-earlier period.

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

The normalized profit margin fell to negative 42.0% from 1.8% in the year-earlier period.

Total revenue decreased 38.1% on an annual basis to 2.5 million soles from 4.1 million soles, and total operating expenses fell from the prior-year period to 3.5 million soles from 3.6 million soles.

Reported net income came to a loss of 1.7 million soles, or a loss of 3 céntimos per share, compared to income of 116,000 soles, or 0 céntimos per share, in the year-earlier period.

As of Aug. 1, US$1 was equivalent to 3.35 soles.