Brazil's Fibria profit rises as currency bets offset lower sales
SAO PAULO, April 27 (Reuters) - Fibria SA, the world's largest eucalyptus pulpmaker, posted an increase in first-quarter net income on Wednesday, after successful currency bets helped offset the impact of declining pulp exports and rising costs.
In a securities filing, São Paulo-based Fibria said net income totaled 978 million reais ($278 million) last quarter, up 7 percent from the previous three months. The company reversed a 566 million-real loss posted in the year-earlier period.
($1 = 3.5223 Brazilian reais) (Reporting by Guillermo Parra-Bernal Editing by W Simon)
© Thomson Reuters 2016 All rights reserved.