November 15, 2013 / 11:17 PM / 4 years ago

Chile Cencosud 3rd quarter net profit drops 34.1 pct

SANTIAGO, Nov 15 (Reuters) - Chilean retailer Cencosud posted a 34.1 percent drop in third-quarter net profit on Friday, due to higher debt levels related to its recent acquisitions and higher costs.

Net profit at Cencosud dropped to 43.80 billion pesos, or $87.1 million, from 66.50 billion pesos.

Acquisition-hungry retailer Cencosud has aggressively expanded in South America, lured by a growing middle class with easy access to credit.

One of its most high-profile purchases was the $2.6 billion acquisition of French retailer Carrefour’s Colombian assets last year.

It has operations in Argentina, Brazil, Chile, Colombia and Peru.

$1 = 502.97 pesos at the end of September Reporting by Anthony Esposito; Editing by Bob Burgdorfer

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below