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Brazil's Hypermarcas beats profit forecasts on strong drug sales
March 7, 2013 / 12:56 PM / 5 years ago

Brazil's Hypermarcas beats profit forecasts on strong drug sales

* Net income doubles from year ago to 125 mln reais

* Pharmaceutical division drives 22 pct revenue rise

SAO PAULO, March 7 (Reuters) - Brazilian drugmaker Hypermarcas said on Thursday its fourth-quarter profit more than doubled from a year earlier as strong pharmaceutical sales drove solid revenue growth.

Net income rose to 125 million reais ($64 million) in the quarter from 50 million reais a year earlier, according to a securities filing, beating an average forecast of 91 million reais in a Reuters poll of analysts.

A sharpened focus on medicine and beauty care has helped Hypermarcas regain profitability in recent quarters after a string of acquisitions into slower-growing household goods and food brands.

Earnings before interest, taxes, depreciation and amortization rose 143 percent to 243 million reais, above an average forecast of 222 million reais.

Quarterly net revenue rose 22 percent from a year earlier, boosted by a 27 percent rise in drug sales.

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