Klabin Rises to Record as Profit Beats Estimate: Sao Paulo Mover
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.
To contact the reporter on this story: Katerina Petroff in Sao Paulo at email@example.com