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Lojas Renner Q4 profit climbs 8.1% YOY

Lojas Renner SA said its fourth-quarter normalized net income amounted to 32 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 37 centavos per share.

EPS rose 6.6% year over year from 30 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 228.8 million reais, an increase of 8.1% from 211.6 million reais in the prior-year period.

The normalized profit margin fell to 11.4% from 11.6% in the year-earlier period.

Total revenue climbed 10.8% year over year to 2.01 billion reais from 1.82 billion reais, and total operating expenses increased 12.7% year over year to 1.61 billion reais from 1.43 billion reais.

Reported net income grew 15.1% year over year to 252.2 million reais, or 36 centavos per share, from 219.1 million reais, or 31 centavos per share.

For the year, the company's normalized net income totaled 70 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 84 centavos.

EPS rose 18.8% from 59 centavos in the prior year.

Normalized net income was 490.9 million reais, a gain of 20.3% from 408.0 million reais in the prior year.

Full-year total revenue grew 17.8% on an annual basis to 6.15 billion reais from 5.22 billion reais, and total operating expenses rose 17.8% on an annual basis to 5.20 billion reais from 4.41 billion reais.

The company said reported net income rose 22.8% on an annual basis to 578.8 million reais, or 82 centavos per share, in the full year, from 471.4 million reais, or 68 centavos per share.

As of Feb. 4, US$1 was equivalent to 3.86 reais.