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Agroindustrial Pomalca Q4 profit climbs YOY

Empresa Agroindustrial Pomalca SAA said its normalized net income for the fourth quarter came to 3.7 million soles, a rise from 456,250 soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 10.8% from 2.4% in the year-earlier period.

Total revenue climbed 80.0% on an annual basis to 34.5 million soles from 19.2 million soles, and total operating expenses climbed 54.0% from the prior-year period to 27.1 million soles from 17.6 million soles.

Reported net income rose from the prior-year period to 7.3 million soles, or 2 céntimos per share, from 769,000 soles, or 0 céntimos per share.

For the year, the company's normalized net income totaled 95,630 soles, compared with a loss of -3.9 million soles in the prior year.

Full-year total revenue rose 7.0% from the prior-year period to 91.2 million soles from 85.2 million soles, and total operating expenses came to 87.8 million soles, compared with 88.0 million soles in the prior-year period.

The company said reported net income totaled 1.1 million soles, or 0 céntimos per share, in the full year, compared with a loss of 4.3 million soles, or a loss of 1 céntimos per share, the prior year.

As of Feb. 12, US$1 was equivalent to 3.51 soles.