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Camil Alimentos fiscal Q1 profit falls YOY

Camil Alimentos SA said its normalized net income for the fiscal first quarter ended May 31 amounted to 34.6 million reais, a decrease of 27.4% from 47.6 million reais 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 3.7% from 5.6% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to 925.2 million reais from 853.1 million reais, and total operating expenses rose 11.2% from the prior-year period to 840.0 million reais from 755.3 million reais.

Reported net income totaled 40.2 million reais, compared with 44.9 million reais, or 13 centavos per share, in the prior-year period.

As of July 18, US$1 was equivalent to 2.24 reais.