Hypermarcas Jumps as Profit Increases on Sales: Sao Paulo
Hypermarcas SA (HYPE3), the Brazilian maker of more than 190 consumer products, advanced the most in eight weeks after reporting the first increase in quarterly profit since 2010.
Shares gained 5.8 percent to 12.68 reais at the close of trading in Sao Paulo, the biggest one-day jump since March 13. The benchmark Bovespa index increased 0.7 percent.
First-quarter net income rose 24 percent to 40.8 million reais ($21.2 million) from 32.9 million reais a year earlier, the Sao Paulo-based company said in a regulatory filing May 5. Sales advanced 14 percent to 897.1 million reais, fueled by a 17 percent jump at its pharmaceutical unit and an increase of 9.2 percent at its consumer-products division.
“Sales growth finally accelerated,” Juliana Rozenbaum and Vitor Paschoal, analysts at Banco Itau BBA SA, wrote in a report to clients today. They rate the stock the equivalent of hold.
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