UPDATE 1-Chile retailer Cencosud's Q3 net jumps 24.3 percent

Tue Nov 20, 2012 6:45am EST

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SANTIAGO Nov 20 (Reuters) - Chilean diversified retail giant Cencosud said on Tuesday its third-quarter net profit jumped on higher sales and beneficial exchange rates.

Cencosud, with operations in Argentina, Brazil, Chile, Colombia and Peru, saw profit jump 24.3 percent on the year to 66.499 billion pesos ($141.3 million), while revenue rose 18 percent to 2.202 trillion pesos.

Cencosud said the revenue increase was due chiefly to the consolidation of Brazilian supermarket chain Prezunic and Chilean department store chain Johnson's, double-digit gains in same-store sales in Argentina and the opening of 76 new stores.

Since 2005, Cencosud has more than doubled the number of stores it operates to more than 900 through organic growth and acquisitions.

Cencosud said last month it was buying struggling French retail giant Carrefour's Colombian assets for $2.6 billion.

Cencosud's owners, the Paulmann family, said late Monday they will exercise their preferential option in a capital increase planned on Tuesday destined for the purchase of the Colombian operations.

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