Salem Radio Network News Sunday, August 7, 2022

Business

Brazil’s Assai posts nearly 21% jump in quarterly profit

(Reuters) – Brazilian cash-and-carry chain Assai reported a 20.7% increase in second-quarter net profit, compared to the same period last year, to reach 319 million reais ($60.83 million), the company said on Wednesday. Net revenue grew 32.8% to total 13.3 billion reais during the three-month period ending in June. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 30% to 978 million reais.

($1 = 5.2437 reais)

(Reporting by Carolina Pulice; Editing by David Alire Garcia)

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