Hypermarcas Profit Climbs 24% on Pharmaceutical Sales
Hypermarcas SA (HYPE3), the Brazilian maker of more than 190 consumer products, said profit climbed 24 percent after sales of pharmaceuticals rose.
Net income increased 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. The profit missed a 53.9 million-real mean estimate for adjusted net income of eight analysts compiled by Bloomberg.
Sales advanced 14 percent to 897.1 million reais, pushed by a 17 percent increase at its pharmaceutical unit and a rise of 9.2 percent at its consumer products division.
“In 2012, the company will maintain its focus on organic growth combined with operating cash generation and the reduction of debt levels,” the company said in the statement.
Hypermarcas has gained 41 percent since the beginning of the year, the third-best performer in the Bovespa benchmark index.
To contact the editor responsible for this story: Helder Marinho at firstname.lastname@example.org