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Brazil’s GPA posts 107.7% increase in 4th-quarter net profit -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Consumers look for cash and carry at the Assai shop, a division of Brazilian retailer GPA SA in Sao Paulo (Brazil), January 11, 2017. REUTERS/Paulo Whitaker

(Reuters) – GPA, a Brazilian food retailer, reported Wednesday a net profit of 777 millions reais ($155.10million) for the fourth quarter 2021. This is a 107.7% rise over the quarter prior year. It was driven by a recovery in Colombia and despite a decrease in Brazilian consumption.

GPA reported a net revenue of 14.875 million reais for its fourth quarter, an increase of 6.7% year-on-year. However, adjusted earnings before interest tax, taxes depreciation, and amortization declined 9.8% to 1.186billion reais a year, which was still above the Refinitiv forecast.

($1 = 5.0097 reais)

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