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Brazil's Oi posts jump in fourth-quarter profit

Thu Feb 28, 2008 7:06am EST

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SAO PAULO, Feb 28 (Reuters) - Brazilian telecommunications group Oi Participacoes (TNLP3.SA) posted a fourth-quarter net profit on Thursday of 911 million reais ($545.5 million), up from earnings of 613 million reais in the same period in 2006.

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Earnings before interest, taxes, depreciation and amortization, a measure of cash flow known as EBITDA, rose to 1.55 billion reais from 1.5 billion reais in the fourth quarter of 2006.

Oi (TNE.N), formerly known as Telemar, posted a net profit of 2.36 billion reais for the whole of 2007, up from 1.31 billion reais the previous year. ($1=1.67 reais) (Reporting by Todd Benson; Editing by Derek Caney)

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