BRAZIL: Brasil Foods returns to profit
Brasil Foods yesterday (12 November) posted a jump in third-quarter profit after a strengthening local currency helped cut debt costs.
The company, formed earlier this year when Perdigao bought local rival Sadia, said profits rose to BRL211m (US$121m), from a loss of BRL52m a year earlier.
Profits were boosted by increased sales and lower financial expenses.
The meat processor reported a net financial gain of BRL223m in the period, compared with an expense of BRL244m last year.
The company, meanwhile, said revenue surged 74% to BRL5.29bn.
In its domestic market, sales climbed 84% as the group pushed price increases through.
Minerva, the Brazilian beef exporter, has been handed a 'buy' rating on its shares as Goldman Sachs kicks off coverage of the country's largest meat processors....
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Have food promotions reached tipping point?
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund