Brazil's Cosan misses profit estimates as revenue declines

miércoles 10 de agosto de 2016 18:39 GYT
 

SAO PAULO Aug 10 (Reuters) - Cosan SA Industria & Comercio , one of Brazil's largest energy and logistics group, missed second-quarter profit estimates on Wednesday after revenue declined and expenses and taxes rose sharply.

São Paulo-based Cosan earned 281.6 million reais ($89.9 million) in net income last quarter, compared with 16.4 million reais in the year-earlier period. The number was slightly below analysts' average consensus estimate of 294.5 million reais for profit in the second quarter, as compiled by Thomson Reuters.

($1 = 3.13 Brazilian reais) (Reporting by Marcelo Teixeira; Additional reporting by Guillermo Parra-Bernal; Editing by Alan Crosby)