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UPDATE 1-Chile Falabella's second-quarter net profit up 12.6 pct
July 30, 2013 / 11:08 PM / 4 years ago

UPDATE 1-Chile Falabella's second-quarter net profit up 12.6 pct

(Adds Falabella’s comments, sales, Ebitda figures)

SANTIAGO, July 30 (Reuters) - Chilean retailer Falabella said on Tuesday its second-quarter net profit jumped 12.6 pct from a year earlier to 105.36 billion pesos, or $208 million, on higher revenues as it opened new stores in the region.

Consolidated revenues increased 10.1 percent in the April to June period to 1.580 trillion pesos, or $3.12 billion.

“The increased revenues are explained by greater sales floor space, which has been incorporated over the last 12 months,” as well as same-store growth in Chile and Peru, Falabella said.

Ebitda, or earnings before interest, taxes, depreciation and amortization, rose 17.4 percent in the second quarter to 214.91 billion pesos, or $424 million.

A unit of Falabella signed a deal in late May to buy a 50.1 percent slice of Brazilian home improvement chain Dicico for 388 million reais ($189 million).

Falabella is already present in Argentina, Chile, Colombia and Peru.

$1 = 507.2 pesos on July 1 Reporting by Anthony Esposito; Editing by Gary Hill and Andre Grenon

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