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Agrí­cola Nacional Q1 profit climbs 25.1% YOY

Agrícola Nacional SAC. é I. said its normalized net income for the first quarter amounted to 48.26 Chilean pesos per share, a gain of 24.0% from 38.93 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.06 billion pesos, an increase of 25.1% from 848.9 million pesos in the prior-year period.

The normalized profit margin increased to 3.3% from 2.7% in the year-earlier period.

Total revenue increased on an annual basis to 32.20 billion pesos from 31.49 billion pesos, and total operating expenses fell from the prior-year period to 29.13 billion pesos from 29.48 billion pesos.

Reported net income increased 69.7% on an annual basis to 1.67 billion pesos, or 75.71 pesos per share, from 981.3 million pesos, or 45.00 pesos per share.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.