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Corporacií³n Financiera de Inversiones Q1 loss widens YOY

Corporación Financiera de Inversiones SA said its first-quarter normalized net income came to a loss of 12 Peruvian céntimos per share, compared with a loss of 2 céntimos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 14.6 million soles, compared with a loss of 2.7 million soles in the year-earlier period.

The normalized profit margin fell to negative 198.5% from negative 102.0% in the year-earlier period.

Total revenue fell 56.4% year over year to 1.2 million soles from 2.7 million soles, and total operating expenses grew 55.4% year over year to 7.0 million soles from 4.5 million soles.

Reported net income totaled 11.1 million soles, or 9 céntimos per share, compared to a loss of 5.0 million soles, or a loss of 5 céntimos per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 3.34 soles.