Redecard posts 6% profit boost in Q3 on strong operating income

- Thursday, October 27, 2011

Redecard posts 6% profit boost in Q3 on strong operating income

Brazilian merchant acquirer Redecard reported earnings of 344mn reais (US$199mn) in the third quarter, a 6% increase on the same period in 2010, according to a release from the company.

Net operating revenue was 920mn reais, up 9% over 3Q10.

Redecard saw financial volume for credit cards grow 24.9% year-on-year in Q3 while debit cards jumped 37.6%.

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To read the financial statement in English, go to this link

To read the financial statement in Portuguese, go to this link