CORRECTED-Brazil's Fibria tops forecasts with surging 2nd qtr profit

miércoles 23 de julio de 2014 08:02 GYT
 

(Corrects year-earlier result)

SAO PAULO, July 23 (Reuters) - Brazil's Fibria Celulose SA , the world's largest wood pulp producer, said on Wednesday that profit rose sharply to 631 million reais ($285.5 million) in the second quarter from a loss of 593 million reais a year earlier.

Fibria's net income beat an average estimate of 547 million reais in a Reuters survey of analysts.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, slipped 8 percent to 594 million reais, excluding one-time tax benefits, above an average estimate of 588 million reais.

($1 = 2.21 Brazilian reais) (Reporting by Brad Haynes)