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Corporacií³n Financiera de Inversiones swings to loss in Q1

Corporación Financiera de Inversiones SA said its normalized net income for the first quarter amounted to a loss of 2.7 million soles, compared with income of 1.1 million 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 declined to negative 102.0% from 94.5% in the year-earlier period.

Total revenue came to 2.7 million soles, and total operating expenses came to 4.5 million soles.

Reported net income totaled a loss of 5.0 million soles, or a loss of 5 céntimos per share, compared to income of 1.2 million soles, or 1 céntimos per share, in the prior-year period.

As of May 15, US$1 was equivalent to 3.15 soles.