REFILE-Brazil's Hypermarcas books strong profit on asset sale

sábado 20 de febrero de 2016 12:57 GYT
 

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SAO PAULO Feb 20 (Reuters) - Hypermarcas SA, the largest Brazilian maker of over-the-counter medicines, posted a strong fourth-quarter profit on Saturday after booking the first payment from the sale of its beauty care division to Coty Inc .

Net income more than tripled from a year earlier to 283 million reais ($70 million), according to a securities filing.

Hypermarcas began selling its portfolio of disposable consumer goods last year to pay off debts and focus on pharmaceuticals as Brazil's economy plunged into recession.

Net sales in the remaining operations grew 5.9 percent from a year before, less than the 10.7 percent consumer inflation last year. But it was enough to boost Hypermarcas' share of the cooling market to 10.5 percent in 2015 from 9.9 in 2014.

Earnings from continuing operations before interest, taxes, depreciation and amortization fell 13 percent from a year earlier to 206 million reais.

($1 = 4.02 Brazilian reais) (Reporting by Brad Haynes; Editing by Raissa Kasolowsky)