By Rogerio Jelmayer
SAO PAULO--Companhia Brasileira de Distribuicao (CBD, PCAR4.BR),
Brazil's largest retailer by revenue, said its first-quarter net
profit rose nearly 23%, as sales picked up more than expenses and
activity increased at its home-appliance retail chain.
The company, which is controlled by French retail group Casino
Guichard-Perrachon SA (CGUSY, CO.FR), late Tuesday said its net
profit totaled 338 million Brazilian reais ($151 million) in the
quarter, up from BRL275 million in the previous year.
CBD's net revenue totaled BRL16.6 billion, up 10.8% from the
year-ago period. The company's operational expenses rose 2.3% to
BRL2.7 billion.
CBD said earnings before interest, taxes, depreciation and
amortization rose to BRL1.05 billion from BRL862 million a year
earlier, while ebitda margin picked up to 7% from 6.4% in the same
quarter last year.
Via Varejo, the company's unit that runs Brazil's biggest
home-appliance retail chains Casas Bahia and Ponto Frio, posted an
increase in its net profit of 67.8% in the first quarter.
On the other hand, CBD's GPA Alimentar unit, which accounts for
the company's sales of foodstuffs, reported a drop of 2.3% in its
net profit in the period.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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