Chilean retail conglomerate Cencosud reported an 11% decrease in net sales to CLP5.33 trillion (£6bn) in 2009, while net profit dropped 38% compared with the previous year to CLP96bn (£108m).

The retailer, which runs fascias including hypermarket chain Jumbo, attributed its drop in sales and profit to an unfavourable exchange rate, as it reports in Chilean pesos.

Cencosud increased sales in local currencies: by 12.2% in Argentina, 1.7% in Chile, 5.8% in Brazil and 7.3% in Peru.

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