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Companhia Brasileira de Distribuiçí£o Q2 profit falls 66.5% YOY

Companhia Brasileira de Distribuição said its normalized net income for the second quarter was 33 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 39 centavos per share.

EPS fell 66.5% year over year from 1.00 reais.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 88.8 million reais, a decline of 66.5% from 265.3 million reais in the prior-year period.

Total revenue rose 6.1% year over year to 16.11 billion reais from 15.19 billion reais, and total operating expenses grew 10.0% on an annual basis to 15.73 billion reais from 14.30 billion reais.

Reported net income declined 73.8% on an annual basis to 60.0 million reais, or 23 centavos per share, from 229.0 million reais, or 86 centavos per share.

As of July 28, US$1 was equivalent to 3.40 reais.