Empresa Azucarera El Ingenio S.A.A. is a company that is mainly engaged in the production of sugar cane and other related businesses, operating in the agricultural sector. It is currently engaged mainly in the cultivation of sugar cane.
Revenues obtained from the sale of sugar cane accumulated as of September 30, 2021 reached S/. 8,297 thousand compared to 2020, which were equal to S/. 6,067 thousand, representing an increase of 36.8%. For the specific semester as of September 30, total revenues were equivalent to S/. 3,639 thousand, an increase of 35.3%.
Likewise, an accumulated gross profit of S/ 1,491 thousand was obtained as of the third accumulated quarter of 2021, an increase of 44.9% compared to the S/ 1,029 thousand obtained in the accumulated third quarter of 2021. Likewise, in the specific quarter there was a significant increase equivalent to 84.9%.
The accumulated net income for the third quarter of 2021 reached S/. 846 thousand, compared to the same quarter of the previous year of S/. 335 thousand, an increase of 152.2%. For the specific quarter of 2021, S/ 498 thousand were obtained, a significant increase compared to the profit equal to S/ 24 in the third quarter of 2020.
Despite the fact that the company is doing well, the E. Wong brothers reported that the company "has ceased to exist".
"The brothers Erasmo Wong and Edgardo Wong requested the Superintendencia del Mercado de Valores (SMV) the designation of a valuation entity in order to carry out the public tender offer for Empresa Agraria Azucarera Andahuasi S.A.A. -in the case of the first one-, and Agro Industrial Paramonga S.A.A. and Empresa Azucarera El Ingenio S.A. -in the case of the latter.
The request was made considering that, as of May 21, 2021, Corporación E. Wong -formed by the brothers Eduardo, Efraín, Eric, Erasmo and Edgardo Wong Lu Vega- ‘has ceased to exist’. Likewise, it is specified that as of said date the exclusive control of, among other assets, the participation that Barroco S.A. and Río Pativilca S.A. had in Andahuasi in favor of Erasmo Wong, and in Paramonga and Ingenio in favor of Edgardo Wong, has been transferred, since the five brothers ‘have ceased to act in a coordinated and concerted manner,’" reported Periódico El Comercio.
