Group CVC has high of 8% in adjusted net income of 1st Qtr

SAO PAULO-the Group CVC, the country''s largest tour operator, had adjusted net income of 68,500,000 reais in the first quarter, up 8,1% compared pro forma profit in the same period in 2016, amid sales growth both in leisure and corporate segment.
The company''s net revenue rose 4,7% on annual basis to 298 million dollars, with sales growth measured by reserves committed to 11,9%, to 2.34 billion reais. The data include the performance of Submarino Viagens and RexturAdvance.
CVC''s operations more Experiment (company focused on segment purchased Exchange at the end of 2016) were discharged from 5,9% in net revenues, to 243,500,000 reais, with confirmed reserves rising 15,9%, 1.5 billion reais.
"The growth of confirmed reservations in CVC ... was raised primarily by strong sales growth in the same shops and for the recovery of stocks in the international segment," the company said in material balance sheet disclosure.
Together, submarine and RexturAdvance showed stability in net income, the real 54,800,000, but 5,1% increase in confirmed reservations to 810,700,000 reais.
The Group''s operating result measured by earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted climbed 12% in the third quarter on the pro forma result a year earlier, to 166,500,000 reais.
Recurring operational expenses in the period retreated 3,1% to 147,600,000 reais, while net financial expenses reached real high 22,800,000 ante 5,2% Pro forma result of equal step of 2016.
Sales expenses fell 8,2%, 48 million dollars, with the company attributing the result to the optimization of marketing resources and lower delinquencies among consumers financed by the company, as a result of a stricter credit policy.