Sale of Holdings Boosts Profit

The profit of Iguatemi, a shopping company, grew 47% in the fourth quarter of 2019, compared to the same period in 2018, totaling R$ 111.8 million. Part of the result was pulled by the sale of a stake in iguatemi caxias and florianópolis malls. In total sales, Iguatemi totaled R$ 4.3 billion in the last quarter, a 0.7% higher than the previous year. Performance in the same stores was positive and recorded growth of 5.7%.