24 de febrero de 2016 / 23:21 / en 2 años

UPDATE 1-Telefonica Brasil to invest a bit more, tracking inflation

(Recasts with investment plans, details of results)

SAO PAULO, Feb 24 (Reuters) - Telefonica Brasil SA plans to increase investments this year in line with inflation, keeping a lid on spending as a severe recession in Latin America’s largest economy hurts sales.

The Brazilian unit of Spain’s Telefonica SA projected 8.907 billion reais ($2.25 billion) of investments in 2016, up 7.1 percent from last year.

Consumer prices are expected to rise 7.6 percent this year, according to the median forecast of a weekly central bank survey of economists.

Telefonica Brasil laid out its investment plans in an earnings report that showed a fourth-quarter net profit of 1.115 billion reais ($282 million), down 11 percent from a year earlier, due to weak sales growth and rising costs.

Net operating revenue rose just 3.4 percent from a year earlier.

Layoffs helped to bring personnel costs down by 14 percent, but spending on third-party services and a jump in energy costs drove general and administrative expenses 46 percent higher.

Earnings before interest, taxes, depreciation and amortization rose 6 percent to 3.432 billion reais.

$1 = 3.96 Brazilian reais Reporting by Brad Haynes; Editing by James Dalgleish and Andrew Hay

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below