August 11, 2017 / 2:52 PM / a year ago

Kroton sees no relief in Brazil distance-learning defaults

SAO PAULO, Aug 11 (Reuters) - The number of Brazilian distance-learning students in arrears on their tuition fees or loans is not showing signs of abating yet, reflecting record unemployment and declining household income, executives at Kroton Educacional SA said on Friday.

However, defaults in the campus-learning segment are showing signs of improvement, executives led by Chief Executive Officer Rodrigo Galindo said during a conference call to discuss second-quarter results.

Profit at Kroton, Brazil’s largest for-profit education firm, came in at 644.9 million reais ($203.1 million), beating forecasts. (Reporting by Alberto Alerigi Jr; Writing by Guillermo Parra-Bernal; Editing by Bernadette Baum)

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