Net Servicos posts fall in Q1 net income
The publication of its financial results saw the group’s share price slump to a seven-month low in early trading.
The cablecos reported net income of BRL45.9 million (USD26 million) in the period under review, down from BRL120.1 million in 1Q09, although first-quarter revenues climbed 16% y-o-y to BRL1.26 billion. Group operating costs increased 17% to BRL601.4 million, Net Servicos said, while the operator’s financial expenses more than doubled to BRL76.6 million, impacted by a decline in the local currency, the real, against the US dollar, which increased the net value of the cable provider’s foreign-currency debt.
|© 2002-2018||Follow us @providerslist|