Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Klabin Rises as Fourth-Quarter Profit Beats Estimates

March 1 (Bloomberg) -- Klabin SA, Latin America’s biggest paper maker, headed to a record high after posting higher-than-expected profit in the fourth quarter.

Shares rose 1 percent to 8.63 reais at 4:36 p.m. in Sao Paulo. A close at that price would be the highest since at least August 1994. The benchmark Bovespa index gained 1.4 percent.

Klabin’s net income fell 46 percent to 122 million reais ($71 million) in the fourth quarter of 2011 from 225 million reais a year earlier, the company said in an e-mailed statement today. The result beat the average estimate of 90.63 million reais for adjusted net income, according to a Bloomberg survey of six analysts.

The results were “a bit better” than expected, Pedro Galdi, head strategist at brokerage firm SLW Corretora, said by phone from Sao Paulo. “The reaction also follows the Bovespa index rising,” he said.

The company sold a property in Rio de Janeiro for 40 million reais, which helped boost fourth-quarter results, according to the statement. Net revenue increased 7 percent to 994 million reais in the quarter as the company sold 432,000 metric tons of paper products, up 4 percent from a year earlier.

To contact the reporter on this story: Katerina Petroff in Sao Paulo at kpetroff@bloomberg.net

To contact the editors responsible for this story: Helder Marinho at hmarinho@bloomberg.net; David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.