Smiles has 44% higher net profit in 4th tri

SAO PAULO-the Manager of loyalty programs Smiles, had a 44% jump in profit for the fourth quarter, a result supported the strong increase of the accumulation and redemption of miles, beyond the control of expenditure.
Controlled by the goal and second-largest company in the sector in the country, with 12 million customers, the Smiles announced on Wednesday that your net profit from October to December totaled 161,600,000 dollars, up 43,9% on a year before.
The operating results of the company measured by earnings before interest, taxes, depreciation and amortization (Ebitda) totaled 188,600,000 dollars, an increase of 71,1% on same step of 2015.
The company''s net revenue grew year by year, 28,8% the real 449,400,000, driven by increasing revenues with redemption of miles, which grew 26%.
The redemption of miles of the program in the quarter was 16,9% majeure, 11.7 billion miles, the company''s record.
The recipe with the so-called breakage when the miles expire without customers have redeemed, fired 60% to 78,300,000 reais.
Operating expenses rose by 3,9% in comparison with the fourth quarter of 2015, to 39,270,000 reais.