Agroguachal S.A. said its normalized net income for the second quarter came to 5.29 Colombian pesos per share, a decline of 35.4% from 8.18 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 317.2 million pesos, a decrease of 35.4% from 491.1 million pesos in the prior-year period.

The normalized profit margin fell to 18.0% from 20.6% in the year-earlier period.

Total revenue decreased 24.3% year over year to 1.81 billion pesos from 2.39 billion pesos, and total operating expenses fell 18.5% from the prior-year period to 1.30 billion pesos from 1.59 billion pesos.

Reported net income declined 25.6% year over year to 522.7 million pesos, or 8.71 pesos per share, from 702.3 million pesos, or 11.71 pesos per share.

As of Aug. 30, US$1 was equivalent to 2,904.53 Colombian pesos.