Brazil supermarket chain GPA posts 70% profit drop in Q4
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SAO PAULO, Feb 19 (Reuters) - Brazilian supermarket chain GPA SA reported on Wednesday a 71% drop in its fourth-quarter net income year-on-year, missing market expectations, after completing a corporate reorganization.
In a securities filing, the local subsidiary of French group Casino Guichard Perrachon SA said its quarterly net profit hit 98 million reais ($22.45 million) compared with a consensus estimate of 327.6 million reais compiled by Refinitiv. ($1 = 4.3655 reais) (Reporting by Aluisio Alves and Gabriela Mello; Editing by Sandra Maler)
