August 6, 2018 / 10:15 PM / 3 months ago

Brazil's Magazine Luiza doubles net profit in 2nd qtr to $37.6 mln

SAO PAULO, Aug 6 (Reuters) - Magazine Luiza SA, a Brazilian electronics and appliance retailer whose shares have surged 100 percent in the last year, beat profit estimates on Monday, despite Brazil’s slow economic recovery.

In a securities filing, the company posted second-quarter net income of 140.7 million reais ($37.6 million), double the same period a year ago and beating a Reuters estimate of 123 million reais.

$1 = 3.7355 reais Reporting by Anthony Boadle Editing by Tom Brown

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