SAO PAULO, March 15 Brazilian mall operator BR
Malls Participações on Wednesday reported an annual
464 percent fall in net income to a negative 147.6 million reais
in the fourth quarter as an economic downturn weighed on
The figure was well below a consensus estimate of a 68.81
million reais net profit compiled by Thomson Reuters. For the
first time in history, BR Malls reported a fall in
same-store-sales, it said.
Earnings before interest, tax, depreciation and amortization
(EBITDA), a gauge of operating profitability, fell sharply by
330 percent to a negative 542.3 million reais, missing an
estimate of 296.4 million reais positive EBITDA.
(Reporting by Ana Mano; Editing by Sandra Maler)