October 30, 2019 / 10:08 PM / 19 days ago

Brazil's GPA supermarket chain reports 29% rise in Q3 net income

SAO PAULO, Oct 30 (Reuters) - Brazilian supermarket chain Grupo Pão de Açúcar SA reported on Wednesday a 29.9% rise in its third-quarter net income year-on-year.

In a securities filing, the Brazilian subsidiary of French group Casino Guichard Perrachon SA said its consolidated net profit hit 166 million reais ($41.61 million)according to new international accounting standards known as IFRS 16.

Considering only continuing operations, net income attributed to controlling shareholders grew by 22.5% to 233 million. ($1 = 3.9891 reais) (Reporting by Tatiana Bautzer and Gabriela Mello; editing by Diane Craft)

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