BRAZIL: H1 sales, profits up at dairy group Vigor
Vigor improved underlying margins
On a consolidated basis, which includes the contribution from Itambe, Vigor posted net earnings of BRL50.4m (US$22.2m), compared to a loss of BRL10.9m. Vigor's consolidated EBITDA jumped from BRL17.5m to BRL166.6m.
The company's sales felt the impact of the acquisition of 50% of Itambe, with net revenue almost tripling to BRL185.7m.
Vigor did see a drop in its gross margin, which fell from 30.8% to 26.8%.
The group's underlying results included higher net income, EBITDA, net revenue and gross margins. Vigor pointed to moves to drive efficiency and improve its product mix as reasons for its higher profitability.
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global bakery & cereals market during April 2014....
Retailing posted strong positive growth in value terms in 2013. Non-store retailing was the most dynamic thanks to the accelerated expansion of internet retailing, but certain categories among store r...
- Comment: Nestle reacts to world of 3G and Buffett
- Nomad's post-Iglo opportunities
- Focus: Can Arla jump-start UK flavoured milk?
- What the analysts say: Nestle's Q1
- Why it is too early to call Unilever food revival
- Kerry Group launches Meateors meat snacks
- UPDATE: Iglo Foods sold to Nomad for EUR2.6bn
- Arla to launch protein dairy drink in UK
- Pork Farms' Kerry pastry deal nears green light
- McCormick to move roles to Poland