Brazil's Ultrapar net profit up 6 pct

miércoles 6 de agosto de 2014 19:37 GYT

RIO DE JANEIRO Aug 6 (Reuters) - Brazil's fuel distribution and retail company Ultrapar Participacoes S.A. posted second-quarter net profit of 301.4 million reais (US$132.58 million), up 6 percent from a year ago, the company said on Wednesday.

Despite a slowing Brazilian economy that reduced demand, Ultrapar said in a securities filing that its net sales expanded 10 percent in the quarter to 16.7 billion reais.

Earnings before interest, tax, depreciation and amortization, a gauge of cash generation known as EBITDA, grew 6 percent to 750.9 million reais.

The board of directors of the company, which owns the Ipiranga chain of service stations, approved 389.6 million reais in dividends, or 0.71 reais per share, to be paid out as of Aug 22.

(1 US dollar = 2.2734 Brazilian real) (Reporting by Juliana Schincariol)