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Petrobras: Fourth quarter jump

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Petrobras quarter profit jumps to $3.1bn

Brazilian state oil company Petrobras said its fourth-quarter net profit rose 47% to 7.36 billion reais (US$3.1 billion) from 5 billion a year ago.

News wires  06 March 2009 22:32 GMT

Petrobras said earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 9.57 billion reais from 12 billion reais a year ago.

The oil company had been expected to post a net profit of 7.6 billion reais and EBITDA of 10.8 billion reais, according to the average forecast of seven analysts surveyed by Reuters.

Published: 06 March 2009 22:32 GMT  | Last updated: 06 March 2009 22:32 GMT

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