Thursday, October 21, 2010

Brazil’s Natura Heads to Record on Earnings

By Alexander Cuadros and Fabiola Moura

Oct. 20 (Bloomberg) -- Natura Cosmeticos SA, Brazil’s largest cosmetics maker, headed to a record close in Sao Paulo trading after third-quarter profit beat forecasts and unemployment fell to a record low.

Natura gained 3.2 percent to 49 reais at 3:02 p.m. New York time, and earlier climbed as much as 3.4 percent, the most intraday in three weeks. The benchmark Bovespa slipped 1.3 percent.

The company had net income of 191.7 million reais ($113 million), according to a filing yesterday. While this was little changed from a year earlier, it surpassed the average estimate of 187.4 million reais in a Bloomberg survey of eight analysts. Sales rose 22 percent to 1.28 billion reais. That, coupled with a stronger currency making imports cheaper, compensated for a jump in costs, said Daniela Bretthauer, an analyst at Raymond James & Associates Inc. in Sao Paulo.

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