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Excelsior Alimentos Q3 profit falls YOY

Excelsior Alimentos S.A. said its normalized net income for the third quarter came to 28 Brazilian centavos per share, a decline of 22.3% from 37 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 1.5 million reais, a decrease of 22.3% from 1.9 million reais in the year-earlier period.

The normalized profit margin dropped to 5.3% from 6.6% in the year-earlier period.

Total revenue decreased year over year to 27.7 million reais from 28.9 million reais, and total operating expenses decreased year over year to 25.4 million reais from 26.0 million reais.

Reported net income decreased 22.0% from the prior-year period to 1.6 million reais, or 30 centavos per share, from 2.0 million reais, or 39 centavos per share.

As of Nov. 11, US$1 was equivalent to 3.76 reais.