View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 2, 2010

BRAZIL: CBD books 48% rise in Q4 earnings

Grupo Pao de Acucar (CBD) booked a 48% jump in quarterly profits today (2 March) as sales growth accelerated and the Brazilian retail giant cut costs linked to its debt.

Grupo Pao de Acucar (CBD) booked a 48% jump in quarterly profits today (2 March) as sales growth accelerated and the Brazilian retail giant cut costs linked to its debt.

CBD’s fourth-quarter net income climbed 47.9% to BRL193.9m (US$108.1m) on the back of a 17.6% increase in net sales, which rose to BRL6.05bn.

The quarterly increase in sales compared to an 15.2% rise in annual revenues, which reached BRL23.25bn. Annual net income more than doubled to BRL597.5m.

Same-store sales increased 10.6% in the fourth quarter; over the course of 2009, they rose 4.5%.

CBD said the results had “consolidated our leading position as Latin America’s largest retail company”.

The company, which is the largest retailer in Brazil, is facing increased competition in its domestic market from Carrefour and Wal-Mart, which have both recently outlined plans for growth in the country.

However, CBD plans to spand BRL5bn between now and 2012, the bulk of which will be spent on new stores, including more Assaí, Extra Fácil and Extra Supermercado outlets.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food