Grupo Pão de Açúcar has seen a considerable drop in year-on-year net income during the second quarter (Q2) of the year, down 52.7 per cent from US$74.5m in 2009 to US$35.9m.
According to the group, the result included figures from the Ponto Frio chain, which was acquired in June 2009, while a tax instalment of US$36.5m also impacted on profit.
Despite a drop in income, earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 14 per cent to hit US$223.3m, while net sales jumped 39.4 per cent on 2009 to US$3.9bn.
Sam-store sales move upwards by 9.9 per cent through the quarter, while the group launched 13 new stores across the three-month period.
