Grupo Soma recorded an adjusted net profit of 113.2 million reais in the fourth quarter of last year, a growth of 13.9% compared to the same period of the previous year, the company reported in its balance sheet this Monday.
Unadjusted, the company posted a net loss of 1.85 billion reais in the period, following a profit of 72.4 million reais in the same period a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of the company, which owns brands such as Hering, Farm and Animale, was 238.5 million reais in the quarter, up 13.2% on annual basis.
The company reported net sales of 1.5 billion reais in the final three months of last year, an increase of 10.4% year-on-year. Adjusted gross margin was 57.5%, up from 54.6% a year earlier.
Soma announced its union with Arezzo&Co at the beginning of the year. “The emergence of this new company will provide great opportunities to generate additional value,” the company said in its earnings report, highlighting, among them, the opportunity to optimize the management of multi-brand, e-commerce and franchising channels.
Source: Terra
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