BRAZIL: M. Dias Branco profits, sales up on share gains
Brazilian food group M. Dias Branco has reported higher first-quarter sales and profits on the back of improved market share trends.
M. Dias Branco, Brazil's largest producer of cookies, crackers and pasta by sales volume, booked a 22.4% increase in net income to BRL132.2m (US$59.1m) for the three months to the end of March. EBITDA stood at BRL181.5m, 21.4% higher.
Net revenue reached BRL1.08bn, up 14%. The company's two largest divisions by sales are cookies and crackers, and pasta, and revenue from each was up, helped by price increases and higher volumes.
M. Dias Branco cited Nielsen data for January and February that it said showed it accounted for 28.5% of Brazil's cookies and crackers sales volumes and 29% of pasta volumes - up 1.9 percentage points and 2.4 points respectively.
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