CHILE: Cencosud books drop in FY profit
Chile-based multi-format retailer Cencosud booked a drop in full-year profit yesterday (11 February), hurt by the global financial crisis.
Cencosud, which has operations in Brazil, Argentina, Colombia, Peru and Chile, saw profit fall to CLP96.34bn (US$190.2m) in 2009, a 38.4% drop on the prior year.
Revenue dropped 11.1% to CLP5.326tn. In Argentina, revenue fell 23.3%, in Brazil 20.2% and 14.9% in Peru. Revenue rose however, in Chile, by 1.6%.
Operating income slid 10.9% for the period to CLP271.8bn.
For the fourth quarter, net income dipped 0.5% to CLP56.7bn, while revenue amounted to CLP1.34tn, a 28.8% drop on the comparable period in 2008.
Operating income, however, increased 4.7% to reach CLP90.83bn.
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