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Brazil Property News: Brazilian companies post record profits
11th April 2008 11:58
Brazil's businesses posted their biggest profits last year, says one consultancy company.
ANBA reports that the research showed that last year the nation's companies with closed capital posted their best results in terms of profit over the five years of President Lula's term in office.
The data compiled by Economatica's research of 257 companies showed that the firms posted a profit of 123.7 billion Brazilian reals (£37 billion) in 2007.
It showed an overall growth of more than 100 per cent since Luiz Inacio Lula da Silva took office.
The news agency added that for the fifth consecutive year, the greatest performing area in 2007 was the banking sector.
A booming economy could be good news for those considering buying property in Brazil as it shows an economic resilience in the Latin American nation.
Economatica was formed in 1986 and offers investment analysis from its offices based across the Americas.
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