BRASILIA Feb 5 Brazilian car rental firm
Localiza on Sunday said fourth-quarter net profit
fell 1.4 percent from the previous year to 104.4 million reais
Localiza posted a full-year 2016 net profit of 409.3 million
reais, up 1.7 percent on 2015, the company said in a statement
on its website.
The company said the fourth-quarter fall in profit was
partly due to a net rise in financial expenses resulting from
increased debt from a bigger fleet and an increase in booked
depreciation compared with the final quarter of 2015.
Earnings before interest, tax, depreciation and amortization
(EBITDA) in the fourth quarter rose 18.8 percent to 270.9
million reais. For the full year, Localiza posted EBITDA of 1.02
billion reais, an increase of 8.6 percent on 2015.
($1 = 3.1174 reais)
(Reporting by Stephen Eisenhammer; Editing by Alan Crosby)