Carrefour Brazil has a high of more than 20% in adjusted profit of the 1st Tri

SÃO PAULO (Reuters)-Carrefour Brazil had two-digit growth in the adjusted net income of the first quarter, driven once again by its attack division Atacadão and cost control. The company had adjusted net income of 413 million reais in the first quarter, without considering the effects of applying the International Accounting Standard IFRS 16, a growth of 28,8% in the annual comparison. Considering IFRS, the adjusted profit was 407 million, growth of 26,7% in the same comparison. The profit before interest, taxes, depreciation and amortization (EBITDA) adjusted pre-IFRS 16 was 983 million reais, growth of 16,7%. Including the accounting standard, the adjusted EBITDA was 1.04 billion reais, an expansion of 23,8%. The retail network stated that Atacadão had an expansion of 32,7% in adjusted EBITDA, 620 million reais, with the margin rising 1 percentage point, to 7,2%. General and administrative sales expenses of the division grew 16,4%, to 754 million reais, with the percentage of net sales expenses rising from 8.5 to 8,7%. The group confirmed the opening of 20 shops of Atacadão this year, after four stores of the flag inaugurated in the first quarter. The result of Carrefour Brazil was released one day after the rival GPA report profit of 164 million reais in the first quarter pre-IFRS 16.