BRAZIL: BRF net profit hit by restructuring
- BRF Q1 net profit down 12% to BRL315m
- EBITDA up 7.1% to BRL861m
- Sales rise 1.8% to BRL7.3bn
BRF operating result strengthens
Brasil Foods (BRF) booked a rise in first-quarter sales and operating profit but saw net profit dented by one-time costs.
Sales value was driven by pricing in export markets but volumes came under pressure as BRF adjusted its mix and stepped back from less profitable volume. The company said this, together with cost reduction, boosted margins.
Operating expenses associated with the group's restructuring plan hit the bottom line but BRF stressed the initiative should "provide for an additional BRL1.9bn in operating results" by 2016.
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