Brazil's Hypermarcas posts higher profit, solid sales growth

viernes 6 de febrero de 2015 20:26 GYT
 

SAO PAULO Feb 6 (Reuters) - Brazilian consumer goods maker Hypermarcas SA posted a 30 percent rise in fourth-quarter profit on Friday due to an aggressive sales policy and less exposure to currency swings.

Hypermarcas reported net income of 72 million reais ($26 million), according to a securities filing. The result missed an average estimate of 91 million reais in a Reuters poll of analysts, as the end of a supply contract and the sale of a plant in Rio de Janeiro triggered one-time costs.

Revenue rose 16 percent from a year earlier, above forecasts for an 11 percent rise, as the company offered promotions for high-volume products, winning market share as Brazil's consumer market stagnates.

Still, earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, fell 22 percent from a year earlier to 227 million reais, missing an average forecast of 268 million reais due to the one-time costs.

Hypermarcas nearly halved its net financial expenses from a year earlier, when the company paid a premium to repurchase dollar bonds and a currency swing drove up the cost of its dollar-denominated debt.

($1 = 2.78 reais) (Reporting by Luciana Bruno and Brad Haynes; Editing by Richard Chang)