Brief: Brazil's Saneago posts major profit decline

Wednesday, December 6, 2017

Goiás state water utility Saneago saw a major earnings drop in the third quarter as expenses grew faster than revenues.

The company's net profit totaled 42.5mn reais (US$13.2mn), down from 109mn reais in 3Q16.

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Saneago is busy preparing for an IPO that is expected to take place at the beginning of next year.