Totvs Q2 profit rises 4.2% to US$23mn

Thursday, July 28, 2011

Brazil's largest software company, Totvs, reported Wednesday (Jul 27) a 36.1mn reais (US$23.2mn) net profit for the second quarter, 4.2% higher than year-ago earnings of 34.7mn reais.

Net revenue increased 16.7% in the same comparison, to 315mn reais. Ebitda rose 16.5% to 73.1mn reais, while the Ebitda margin was unchanged at 23.2%.

Totvs' net profits for the first half stood at 69.7mn reais, up 11.5% on the same period last year. Net revenue rose 16.9% to 620mn reais, and Ebitda grew 16.9% to 144mn reais.

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By Dimalice Nunes