May 11, 2017 / 2:58 PM / a year ago

Brazil's Oi CEO sees first-quarter margins sustainable over time

SAO PAULO, May 11 (Reuters) - First-quarter operational margins at Brazilian phone carrier Oi SA seem “sustainable” over time, indicating the Brazilian phone carrier that is under bankruptcy protection is generating cash flow, Chief Executive Officer Marco Schroeder said on Thursday.

Operating profit accounted for 27.9 percent of net revenue in the first quarter, up from 25.8 percent a year ago, Oi said late on Wednesday. In a conference call to discuss results, Schroeder said a government-led intervention in Oi is unnecessary given the company’s recent improvement in quality metrics. (Reporting by Alberto Alerigi; Writing by Bruno Federowski; Editing by Chizu Nomiyama)

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