CFLCL posts net loss of 9mn reais

Brazilian power distribution holding Companhia Forca e Luz Cataguazes Leopoldina (CFLCL) posted a consolidated net loss of 9mn reais for the second quarter of 2003, compared to a net loss of nearly 40mn reais in 2Q02, the company reported Tuesday. Net revenues were 234mn reais, up 65% from 142mn reais in 2Q02, while operating profit was 2mn reais, compared to an operating loss of 30mn reais in the same period of 2002. In a statement, CFLCL said total sales were 2,938GWh for the first six months of the year, up 11.5% from 1H02 and up 3.5% from 1H00, before nine months of obligatory rationing began in 2001. As well as managing its own distribution operations, CFLCL controls four distribution subsidiaries: CENF, Energipe, CELB and Saelpa.