Enel's profits fell sharply in the first quarter, reaching CH$70,993 billion ($85.13 million), compared to $174,541 billion ($209.30 million) in the same period last year. This decrease was mainly due to the recording of extraordinary income of Ch$121,118 billion (Ch$145.33 million) in March 2019, as a result of the early termination of three electricity supply contracts signed in 2016 between Enel Generación Chile and Anglo American Sur.
Pablo Mazo, the former technical team manager at the salmon producer Ventisqueros, has taken up a position as general manager at Benchmark Genetics Chile. He will be working closely with Benchmark Genetics in Norway and Iceland to exchange knowledge and technology to develop the company’s breeding programme in Chile.
Chile’s economic activity dropped 3.5% in March from a year earlier, said the Central Bank. The bank’s IMACEC economic activity index declined 5.7% compared with the previous month, as the country went into an economic and social shutdown after the arrival in Chile of the Coronavirus. Finance Minister Ignacio Briones said in a statement the figures were as expected but the crisis was “transitory.”
Colombian retail chain Justo & Bueno announced that it has acquired Erbi supermarkets in Chile, which will take place once the containment measures in the country have ended. Erbi currently has 32 stores in Chile.
Brokerage firms' profits fell sharply between January and March 2020. Brokerage firms' profits plummeted 92.7% annually to CH$1.57 billion ($1.88 million), compared with profits of CH$21.63 billion ($25.92 million) in the same period in 2019.