Brazil retailer Pão de Açúcar profit rises 70 pct from year ago

SAO PAULO, April 29 Mon Apr 29, 2013 7:41pm EDT

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SAO PAULO, April 29 (Reuters) - Grupo Pão de Açúcar , Brazil's biggest diversified retailer, said on Monday that first-quarter net income rose 70 percent from a year earlier to 275 million reais ($138 million), according to a securities filing.

Profit beat an average forecast of 244 million reais in a Reuters survey of eight analysts.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 11 percent to 862 million reais, slightly below an average estimate of 874 million reais.

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