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UPDATE 1-Chile's Cencosud posts Q2 net loss, hit by Argentina's inflation

Reuters
·1 min read

(Adds more information about quarterly result)

SANTIAGO, Aug 11 (Reuters) - Chilean retailer Cencosud on Thursday posted a quarterly loss of $21.9 million, as inflation in Argentina impacted its debt levels and forced it to write down the value of some assets.

Stripping out the effects of the South American country's surging prices, the supermarket operator registered a profit of $65 million.

Cencosud, one of South America's largest retailers, reported that its overall revenue increased 22% year-on-year to $3.812 billion, excluding Argentina.

Including Argentina's effects, the company's revenue was $3.7 billion.

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The company's adjusted earnings before taxes, interest, depreciation and amortization (EBITDA) surged 3.4% to $393 million excluding Argentina.

($1 = 919.97 Chilean pesos by end June) (Reporting by Carolina Pulice and Fabian Cambero; Editing by Brendan O'Boyle)