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Financials

Brazilian card processor Cielo cancels 2019 profit guidance

SAO PAULO, May 24 (Reuters) - Brazilian card payment processor Cielo has canceled net profit guidance for 2019 it published in January without releasing any new guidance, the company said in a securities filing on Friday.

In January Cielo said it expected net profit in 2019 of between 2.3 billion and 2.6 billion reais ($646.56 million). Cielo said the decision to cancel the guidance reflects the competitive environment it is facing in Brazil, where many new entrants have started business recently.

$1 = 4.0213 reais Reporting by Marcelo Teixeira Editing by James Dalgleish

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