Brazil's Fibria posts strong Q4 profit on prices, currency

miércoles 27 de enero de 2016 20:05 GYT
 

SAO PAULO Jan 27 (Reuters) - Brazil's Fibria Celulose SA, , the world's largest producer of eucalyptus pulp, posted a surging fourth-quarter net profit on strong prices and a more favorable currency, reversing a year-earlier loss.

Net income in the quarter rose to 910 million reais ($221 million) from a loss of 128 million reais a year earlier, according to a securities filing on Wednesday.

Resilient demand for paper products in Europe and Asia helped Fibria make the most of a stronger U.S. dollar at a time when miners and oil companies in Brazil are suffering from the plunging price of iron ore and crude.

Fibria's quarterly earnings before interest, taxes, depreciation and amortization rose 79 percent from a year earlier to 1.62 billion reais. ($1 = 4.109 reais) (Reporting by Juliana Schincariol; Editing by Andrew Hay)