Redecard records good profit

Redecard is growing steadily

In brief: Redecard profit rose 9.1% in second quarter.

Credit card operators Redecard (the second in the Brazilian market capitalization) reported an increase in profit by 9,1% in the second quarter, helped by increased consumer spending on credit and debit cards.

It is reported that net profit rose to 374.6 million reais ($ 213 million), or 56 cents per share, compared with 343.3 million reais, or 51 cents per share a year earlier. However analysts had expected net profit excluding certain items will be 358.9 million reais. It is worth noting that Redecard net sales increased by 16.6% to 862.9 million reais.

Anrey Torbinski
2010-08-02 14:58, Economics.

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