ALL Posts Higher Third-Quarter Profit on Market Share Gain
Net income increased 3.3 percent in the third quarter to 91.3 million reais ($52.2 million), compared with 88.4 million in the same period last year, the company said in a regulatory filing today. The average estimate for adjusted net income was 82 million reais, according to a Bloomberg survey with six analysts.
The Curitiba-based company improved productivity and market share, mainly in the transportation of agricultural commodities, Chief Executive Officer Paulo Basilio said in the filing. The executive cited another “good” quarter for subsidiary Brado Holding SA.
Shares rose 1.7 percent to 9.05 reais at 12:34 p.m. in Sao Paulo trading, while the benchmark Bovespa index fell 0.2 percent.
ALL posted a consolidated net income of 277.5 million reais in the nine months ended September 30, a 0.3 percent drop from the same period last year. The company’s net debt expanded 27 percent in the third quarter to 3.37 billion reais, according to the filing.
Earnings before interest, tax, depreciation and amortization increased 16.4 percent to 429.4 million reais in the third quarter from the same period in 2010, the company said. Sales rose 20 percent to 869 million reais, according to the filing.
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