– Brazilian food retailer GPA reported on Wednesday a net income of 777 million reais ($155.10 million) in the fourth quarter of 2021, a 107.7% increase over the same quarter in the previous year, pushed by a rebound in Colombia’s economy and despite a contraction of consumption in Brazil.
GPA’s fourth quarter net revenue was of 14.875 billion reais, a 6.7% increase year-on-year. Adjusted earnings before interest, taxes, depreciation and amortization fell 9.8% to 1.186 billion reais on a yearly basis, but was above the Refinitiv forecast of 1.0 billion reais.
($1 = 5.0097 reais)
(Reporting by Carolina Pulice; Editing by Leslie Adler)