Chilean retail group D&S has posted net profit of CLP7.85bn (US$15m) for the third quarter, up 74.1% from the corresponding period last year, boosted by a strong contribution from its financial services operations.
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Consolidated net revenues rose by 5.4% to CLP427.7bn, while EBITDA increased by 13.6% to CLP26.68bn, equivalent to a 6.7% of revenues.
D&S’s Financial Services division generated revenues of CLP22.87bn in the third quarter, up 44% from last year, on the back of a 32.2% increase in outstanding credit receivables and greater use of the Presto card.
Chief financial officer Miguel Nunez said that in addition to the improved performance from financial services, the positive result for the quarter was also attributable to an improvement in gross margin as well as a reduction in the expenses margin.
D&S’s total selling area increased by 10.5% over the 12 months to the end of September, with 19 new stores opened during that period in Santiago and the surrounding regions. The company currently operates 33 hypermarkets, 27 compact hypermarkets, 39 supermarkets, 70 pharmacy stores and seven shopping centres.
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By GlobalData
