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Universal Textil Q2 loss widens 91.0% YOY

Compañía Universal Textil SA said its normalized net income for the second quarter was a loss of 2.2 million soles, compared with a loss of 1.1 million 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 dropped to negative 11.2% from negative 5.4% in the year-earlier period.

Total revenue declined 8.0% year over year to 19.1 million soles from 20.8 million soles, and total operating expenses came to 22.3 million soles, compared with 22.2 million soles in the year-earlier period.

Reported net income came to a loss of 3.2 million soles, or a loss of 2 céntimos per share, compared to a loss of 1.4 million soles, or a loss of 1 céntimos per share, in the prior-year period.

As of July 27, US$1 was equivalent to 3.36 soles.