VBC Energia cuts H1 net losses to US$6mn
Bnamericas Published: Monday, August 09, 2004
Brazilian power company VBC Energia announced on Friday evening that in the first half it saw a 19.3mn-real (US$6.36mn) net loss, down 90.35% on the 200mn-real loss of the same period last year. Net revenue rose 19.8% to 1.65bn reais and gross profits rose 31.6% to 419mn reais. Operating costs fell 28.2% to 370mn reais and operating profits totaled 49.4mn reais against a 197mn-real loss taken over the same period in 2003. On June 30 the company's net equity totaled 649mn reais.
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