Agrícola Nacional SAC. é I. said its normalized net income for the fourth quarter amounted to 136.40 Chilean pesos per share, an increase of 22.0% from 111.76 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 3.00 billion pesos, a gain of 22.0% from 2.46 billion pesos in the prior-year period.

The normalized profit margin rose to 6.7% from 5.5% in the year-earlier period.

Total revenue totaled 44.91 billion pesos, compared with 44.77 billion pesos in the year-earlier period, and total operating expenses decreased from the prior-year period to 38.08 billion pesos from 39.53 billion pesos.

Reported net income came to a loss of 1.85 billion pesos, or a loss of 83.93 pesos per share, compared to income of 3.95 billion pesos, or 179.48 pesos per share, in the prior-year period.

For the year, the company's normalized net income totaled 344.33 pesos per share, a gain of 26.2% from 272.87 pesos per share in the prior year.

Normalized net income was 7.59 billion pesos, a rise of 26.4% from 6.00 billion pesos in the prior year.

Full-year total revenue totaled 157.63 billion pesos, compared with 157.29 billion pesos in the prior year, and total operating expenses fell on an annual basis to 138.15 billion pesos from 141.63 billion pesos.

The company said reported net income declined 49.1% year over year to 4.12 billion pesos, or 187.00 pesos per share, in the full year, from 8.09 billion pesos, or 367.82 pesos per share.

As of March 29, US$1 was equivalent to 678.43 Chilean pesos.