By Contributing Reporter
SÃO PAULO, BRAZIL - Burger King Brasil reported a net profit of R$3.051 (US$0.75) million in the first quarter of 2019, a result representing a decrease of 65.4 percent in relation to the same period in 2018.
Excluding the effects of accounting standard IFRS 16, the net income would have totaled R$8.1 million, according to the company's results report.
IFRS 16 is an International Financial Reporting Standard promulgated by the International Accounting Standards Board (IASB) providing guidance on accounting for leases.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization . . .
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