BRAZIL: H1 earnings soar at food group BRF
- Net profit soars to BRL567m
- Operating profit up 57%
- Net sales climb 12%
Brasil Foods said the results were driven by gains in commercial performance
Brazilian food group BRF saw its earnings soar in the first half of the year as the Brazilian poultry exporter benefited from higher sales and an easing of cost increases.
Eearnings reached BRL567m (US$250m), compared to BRL160m last year, the company reported yesterday (29 July).
Operating profit soared 57% to BRL1.6bn from BRL1bn last year. Brasil Foods said the results were driven by gains in commercial performance and an easing in cost increases of its principal raw materials.
Other factors included the "gradual improvement" in export turnover, the devaluation of the Brazilian real against the US dollar and the launch of around 70 products.
Net sales in the period climbed 12% to reach BRL14.73bn.
Click here to view the full earnings release.
Brazilian food group BRF has signed a deal with Kuwait-based food firm Americana Group to look at working together in the Middle East....
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