August 10, 2018 / 12:00 AM / 3 months ago

Brazil's BR Malls meets quarterly profit estimates

SAO PAULO, Aug 9 (Reuters) - BR Malls Participacoes SA , Brazil’s largest mall operator, hit quarterly profit estimates on Thursday, as a consumer-led turnaround in Brazil more than offset a massive truckers’ strike in the second quarter.

In a securities filing, the firm posted second-quarter net income of 127 million reais ($33.4 million), up 114 percent from the same period last year. That was roughly in line with an estimate by analysts at BTG Pactual of 125 million reais.

Earnings before interest, taxes, depreciation, and amortization came to 223 million reais in the quarter, in line with a Reuters consensus estimate of 225 million reais.

$1 = 3.80 reais Reporting by Gram Slattery; editing by Diane Craft

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