BRAZIL: Marfrig swings to Q3 profit
By: just-food.com | 27 October 2009
Brazilian food group Marfrig Alimentos has swung into the black during the third quarter of the year, with its numbers boosted by acquisitions.
Net income for the period reached BRL200.4m (US$115.6m) compared to a net loss of BRL52.7m a year earlier.
EBITDA for the period rose 59% to reach BRL272.53m.
Net revenue reached BRL2.40bn, up 57.7% on the third-quarter of 2008.
The figure, however, was down 0.1% in relation to the second quarter, mainly due to the depreciation in the dollar against the Brazilian real of 9.9%.
Poultry production jumped 131% in the third quarter of this year from one year ago, while beef production rose 14.5% and pork production gained 15.4%.
"The third quarter of 2009 was marked by the continued execution of our operational plans through the achievement of solid financial indicators. More importantly, however, were the important acquisitions and partnerships in the period, which complemented our strategic planning and strengthened the foundations of our business divisions for a new phase of growth in the coming years," the company said.
Most recently, Marfrig bought Cargill-owned poultry business Seara Alimentos in September for US$706.2m.
Sectors: Emerging markets, Meat & poultry, Seafood
View next/previous articles
27 Oct 2009 -
27 Oct 2009 -
Currently reading -
BRAZIL: Marfrig swings to Q3 profit
27 Oct 2009 -
Related research
Frozen food in Argentina to 2013
This databook provides key data and information on the frozen food market in Argentina. This report is a comprehensive resource for market, category and segment level data including value, volume, distribution share and company & brand share. This re...
This report profiles the major players in the global food and drinks ingredients industry and the issues affecting their performance....
This report profiles the leading players in the global flavor and fragrance industry. Flavor is the sensory notion of a food or other substance, and is determined mainly by the sense of taste....
There are currently no comments on this article
Be the first to comment on this article