SAO PAULO, May 24 (Reuters) - Brazilian card payment processor Cielo CIEL3.SA has canceled net profit guidance for 2019 it published in January without releasing any new guidance, the company said in a securities filing on Friday.
In January Cielo said it expected net profit in 2019 of between 2.3 billion and 2.6 billion reais ($646.56 million). Cielo said the decision to cancel the guidance reflects the competitive environment it is facing in Brazil, where many new entrants have started business recently.
($1 = 4.0213 reais)
(Reporting by Marcelo Teixeira Editing by James Dalgleish)
((marcelo.teixeira@tr.com; +55 11 5644 7707; Reuters Messaging: marcelo.teixeira.thomsonreuters.com@reuters.net - https://twitter.com/tx_marcelo))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
