Sabesp actions are also a sale recommendation at this Tuesday’s Day Trade (Image: Money Times)
Petz (Petz3) released this Thursday adjusted net profit of R $ 1.06 million In the first quarter, a decrease of 86.7% over January to March 2024, according to the results report presented to the market.
The Retail Products and Services Network for pets found an operating result measured by profit before interest, taxes, depreciation and amortization (EBITDA) of R $ 55.99 million, a retreat from 6.9% year to year, mostly impacted by increased operating expenses (+10.6%).
The company said it has faced “operational challenges” at its distribution center, which operated with high stock occupation and above its ideal capacity throughout the quarter – and during the expansion work of its storage area.
“This condition has affected productivity and generated a momentary loss of efficiency, in a context of strong growth in the volume of products issued,” Petz said in a message that accompanies the balance, adding that, to normalize the operations, he hired additional temporarily.
Petz net revenue totaled R $ 839.2 million in the first three months of the year, an annual expansion of 7.9%.
Source: Moneytimes
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