Cosan SA Industria e Comércio 3rd-quarter profit jumps 53 pct
Petroleumworld 11 13 2017
Cosan SA Industria e Comércio reported a net profit of 499.7 million reais ($152.45 million) in the third quarter, 53 percent more than a year earlier, according to a securities filing on Friday.
Cosan, which partners with Royal Dutch Shell Plc in the joint venture Raízen, the world's largest sugar producer, noted signs of sales recovery in its businesses as Brazil leaves its worst recession on record.
“There were increases in the sale of fuels, lubricants and natural gas in the period”, the company said in the report.
Raízen is Brazil's second-largest fuel distributor, and also a large ethanol maker. Cosan also controls Companhia de Gás de São Paulo Comgas, Brazil's largest natural gas distributor.
Cosan reported earnings before taxes, interest, depreciation and amortization (EBITDA) of 1.43 billion reais in the quarter, stable from last year.
$1 = 3.2778 reais
Reporting by Marcelo Teixeira; Editing by Lisa Shumaker from Reuters.
reuters.com 11 10 2017
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