By
Reuters
Published
Mar 16, 2017
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Portugal retailer Sonae's 2016 net profit up 23 pct

By
Reuters
Published
Mar 16, 2017

Portugal's largest retailer Sonae reported on Thursday that  2016 net profit up 23 percent at 215 million euros ($230.57 million), above forecast.


Sonae headquarters - Sonae


According to the company statement, 2016 net profit was up 23 percent at 215 million euros ($230.57 million), with revenues up 7 percent at 5.38 billion euros.

The underlying EBITDA dropped 3 percent to 320 million euros, while overall EBITDA rose 6 percent to 416 million euros.

Analysts in a Reuters survey expected, on average, a net profit of 180 million, underlying EBITDA of 316 million and revenues of 5.38 billion euros.

($1 = 0.9325 euros)
 

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