CHILE: Cencosud 2010 profits rise on improved sales
Chile-based retailer Cencosud has reported a 23.8% rise in 2010 net income on the back of higher sales across its different store formats.
The company, which has also stores in Brazil, Argentina, Peru and Colombia, booked net income of CLP306.4bn (US$630m) for 2010, up 23.8% on the year.
Cencosud posted "record" EBITDA in 2010 of CLP527.37bn, a rise of 33% on 2009. Its EBITDA margin reached a "remarkable" 8.5% compared to the 7.2% filed in 2009.
The group generated revenues of CLP6.19trn last year, up 12.4% on 2009. Cencosud said the growth reflected increased sales across its business, including in its supermarket operations, which account for over 71% net revenues.
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