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Agroindustrial Laredo Q1 profit falls YOY

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Agroindustrial Laredo Q1 profit falls YOY

Agroindustrial Laredo SAA said its normalized net income for the first quarter was 15 Peruvian céntimos per share, a decrease of 80.0% from 74 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 1.7 million soles, a decline of 80.0% from 8.5 million soles in the prior-year period.

The normalized profit margin fell to 2.1% from 12.7% in the year-earlier period.

Total revenue declined 8.3% on an annual basis to 61.5 million soles from 67.1 million soles, and total operating expenses climbed 7.3% year over year to 55.3 million soles from 51.6 million soles.

Reported net income fell 67.4% year over year to 3.1 million soles, or 27 céntimos per share, from 9.5 million soles, or 82 céntimos per share.

As of April 30, US$1 was equivalent to 3.13 soles.