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Brazil's BR Malls net income falls 464 pct in Q4
March 16, 2017 / 12:51 AM / 6 months ago

Brazil's BR Malls net income falls 464 pct in Q4

SAO PAULO, March 15 (Reuters) - Brazilian mall operator BR Malls Participações on Wednesday reported an annual 464 percent fall in net income to a negative 147.6 million reais in the fourth quarter as an economic downturn weighed on results.

The figure was well below a consensus estimate of a 68.81 million reais net profit compiled by Thomson Reuters. For the first time in history, BR Malls reported a fall in same-store-sales, it said.

Earnings before interest, tax, depreciation and amortization (EBITDA), a gauge of operating profitability, fell sharply by 330 percent to a negative 542.3 million reais, missing an estimate of 296.4 million reais positive EBITDA. (Reporting by Ana Mano; Editing by Sandra Maler)

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