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Agroindustrias San Jacinto swings to profit in Q2

Agroindustrias San Jacinto SAA said its second-quarter normalized net income came to 7 Peruvian céntimos per share, compared with a loss of 12 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.1 million soles, compared with a loss of 3.5 million soles in the prior-year period.

The normalized profit margin declined to negative 42.5% from negative 7.6% in the year-earlier period.

Total revenue decreased 23.2% year over year to 35.4 million soles from 46.2 million soles, and total operating expenses fell 30.6% on an annual basis to 31.3 million soles from 45.1 million soles.

Reported net income totaled 3.1 million soles, or 11 céntimos per share, compared to a loss of 4.5 million soles, or a loss of 16 céntimos per share, in the prior-year period.

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