May 14, 2018 / 11:35 PM / 2 months ago

Brazil's BR Malls beats profit estimates as delinquencies fall

SAO PAULO, May 14 (Reuters) - Brazil’s BR Malls Participações SA, the nation’s largest mall operator, beat quarterly profit estimates on Monday, as the company’s provisions for delinquent tenants fell sharply amid an improving economy.

In a securities filing, the company posted a net profit of 127 million reais ($35.1 million), up 77 percent from the same period last year and above a Reuters consensus forecast of 117 million reais.

The company said that net profit adjusted for accounting changes came to 150 million reais.

$1 = 3.62 reais Reporting by Gram Slattery; Editing by Sandra Maler

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