February 22, 2018 / 10:34 PM / 3 months ago

Brazil's Raia Drogasil posts quarterly profit in line with forecasts

SAO PAULO, Feb 22 (Reuters) - Raia Drogasil SA, Brazil’s largest drugstore chain, reported a fourth-quarter profit on Thursday that was in line with analysts’ forecasts, as the company accelerated expansion amid Brazil’s economy recovery.

In a securities filing, the company reported fourth-quarter net income of 134.2 million reais ($41.2 million), up 54 percent from the same period last year, in line with a Reuters consensus estimate of 134 million reais.

Raia opened 60 stores in the fourth quarter, to reach 1,610 pharmacies. ($1 = 3.2497 reais) (Reporting by Tatiana Bautzer; Editing by Leslie Adler)

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