Brazil supermarket chain GPA posts 70% profit drop in fourth quarter [Reuters]
CASINO GHRD PRCN S/ADR (CGUSY)
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Source: Reuters
Brazil supermarket chain GPA posts 70% profit drop in fourth quarter SAO PAULO (Reuters) - Brazilian supermarket chain GPA SA ( PCAR4.SA ) reported on Wednesday a 71% drop in its fourth-quarter net income year-on-year, missing market expectations, after completing a corporate reorganization. In a securities filing, the local subsidiary of French group Casino Guichard Perrachon SA ( CASP.PA ) said its quarterly net profit hit 98 million reais ($22.45 million) compared with a consensus estimate of 327.6 million reais compiled by Refinitiv.
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