General Shopping Brasil - Gross Revenue Increases 10.6% and Consolidated NOI Reaches R$ 24.7 Million with Margin at 85.5% in 3Q10

SAO PAULO, Nov. 12, 2010 /PRNewswire-FirstCall/ -- General Shopping Brasil S/A [BM&FBOVESPA: GSHP3], one of the largest shopping mall companies in Brazil, announces its third quarter 2010 earnings.

Operating and financial highlights

• General Shopping Brasil's gross revenue totaled R$ 31.4 million in 3Q10, up 10.6% over the revenue of R$ 28.4 million in 3Q09. In 9M10, gross revenue was R$ 90.6 million, a growth of 13.6% as compared with 9M09.
• Consolidated NOI of 3Q10 reached R$ 24.7 million, with margin at 85.5% and a growth of 13.1% in relation to R$ 21.8 million in 3Q09. In 9M10, consolidated NOI was R$ 71.6 million, with margin at 86.1% and a growth of 19.4% in comparison with 9M09.
  Gross Profit in 3Q10 was R$ 22.5 million, with margin at 77.7% and a 14.8% increase in comparison with R$ 19.6 million in 3Q09. In 9M10, gross profit totaled R$ 64.8 million, with margin at 78.0% and a 21.7% increase in relation to 9M09.
• Adjusted EBITDA in 3Q10 reached R$ 20.3 million, with margin at 70.3%, up 8.9% in comparison with R$ 18.6 million in 3Q09. In 9M10, adjusted EBITDA was R$ 58.5 million, with margin at 70.4%, up 14.6% as compared with 9M09.

http://release.firb.com/general_shopping/GSB_release_3Q10.pdf

SOURCE General Shopping Brasil S/A

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED