Investments Investments in 1H05 amounted to R$53.1 million. Highlights were: (i) construction of the third automatic distribution line – Picking – R$15.4 million, which is expected to go on-stream during the third quarter; and (ii) acquisition of new machines, software and shapes totaling R$16.9 million. For 2005, estimated investment program will total R$120 million.
2Q05 net income from Argentina, Chile and Peru operations grew, in dollars, by 55.3%.
Considering the growth in local currency weighted by the share in dollars of each operation, the growth reached 48.5% in 2Q05.
The operating loss posted in the quarters under comparison increased from US$0.6 million in 2Q04 to US$1.0 million in 2Q05 and was due to the growth of expenses related to the opening of new operations in other Latin American countries.
In 1H05, the number of consultants in Argentina, Chile and Peru grew by 35.9%, reaching 29.9 thousands by the end of the period.
Cash Flow In 1H05, gross cash generation1 was R$184.9 million, 27.2% higher than that posted in the same period of last year. Of this total, R$40.5 million were allocated to working capital and to long-term assets and liabilities. The amount invested in the purchase of property, plant and equipment amounted to R$53.1 million, ending 1H05 with free cash flow2 generation of R$91.3 million.
Dividends In meetings held on April 28 and July 27, 2005, the Board of Directors approved the distribution and payment of interest on capital and dividends, referring to the 1H05, as anticipation of 2006 Ordinary General Shareholders Meeting ad-referendum dividends, totaling a gross amount of R$103,816.4 thousands (net: R$101,823.3 thousands).
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