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Pomifrutas Q2 loss narrows YOY

Pomifrutas S/A said its normalized net income for the second quarter amounted to a loss of 40 Brazilian centavos per share, compared with a loss of 56 centavos 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 3.6 million reais, compared with a loss of 6.0 million reais in the prior-year period.

Total revenue climbed 26.1% year over year to 12.6 million reais from 10.0 million reais, and total operating expenses decreased 11.4% on an annual basis to 14.3 million reais from 16.1 million reais.

Reported net income totaled a loss of 5.7 million reais, or a loss of 62 centavos per share, compared to a loss of 9.5 million reais, or a loss of 88 centavos per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 3.16 reais.