Brazil-based beef processor Marfrig saw profits jump by almost a third last year on the back of soaring sales.

The company today (6 March) posted a 32.1% rise in net income to BRL84.9m (US$51m) for 2007.

Net revenue climbed 56.8% to BRL3.3bn and Marfrig pointed to growing demand for beef in its domestic market.

"This result was due to an expanded slaughtering capacity and higher value-added processed products in Argentina, Brazil and Uruguay and a substantial increase in sales in the domestic market following a greater demand for beef in the domestic market," the company said.