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SLC Agrí­cola profit beats consensusin Q4

SLC Agrícola S.A. said its fourth-quarter normalized net income amounted to 81 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 39 centavos per share.

EPS climbed year over year from 32 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.9 million reais, a gain from 31.3 million reais in the prior-year period.

The normalized profit margin dropped to 4.8% from 7.1% in the year-earlier period.

Total revenue climbed 33.1% on an annual basis to 583.6 million reais from 438.6 million reais, and total operating expenses increased 25.3% from the prior-year period to 433.1 million reais from 345.5 million reais.

Reported net income grew from the prior-year period to 35.0 million reais, or 36 centavos per share, from 16.7 million reais, or 17 centavos per share.

For the year, the company's normalized net income totaled 2.55 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.25 reais.

EPS rose from 55 centavos in the prior year.

Normalized net income was 247.4 million reais, a gain from 53.4 million reais in the prior year.

Full-year total revenue rose 17.5% from the prior-year period to 1.76 billion reais from 1.50 billion reais, and total operating expenses declined on an annual basis to 1.25 billion reais from 1.31 billion reais.

The company said reported net income grew 80.5% on an annual basis to 122.5 million reais, or 1.26 reais per share, in the full year, from 67.9 million reais, or 69 centavos per share.

As of March 9, US$1 was equivalent to 3.69 reais.