Brazil's RD posts 47% increase in Q4 adjusted net profit

March 07, 2023 08:56 PM -03 | By Reuters
Image source: Reuters

SAO PAULO (Reuters) - Brazilian pharmacy chain RD SA, Raia Drogasil, posted on Tuesday a 47% jump year-over-year in fourth-quarter adjusted net profit to 301.1 million reais ($58.00 million), boosted by an increase in market share and revenue growth in digital sales.

RD also reported gross revenue of 8.35 billion reais for the fourth-quarter, a 22% increase year-on-year and beating a Refinitiv poll compiled by Reuters of 7.66 billion reais.

Adjusted EBITDA rose 33.7% to 599.4 million reais.

The company said it operates 2,697 drugstores after opening 86 new one and closing 9 during the quarter.

($1 = 5.1910 reais)

(Reporting by Carolina Pulice and Peter Frontini; Editing by Anthony Esposito)

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