BRAZIL: Marfrig upbeat on mixed Q1
- Q1 net sales BRL4.79bn (US$2.16bn), compared to BRL4.37bn
- EBITDA BRL392.7m, versus BRL366.5m
- Net loss of BRL96.4m, compared to a loss of BRL59.6m
Marfrig stresses improved operating performance
Brazilian meat group Marfrig has seen sales and operating profits rise in the first quarter - but net losses also mounted in the period.
The company said sales in the three months rose 9.4% while EBITDA increased 7.2%.
Marfrig stressed a "solid performance" from all its operating units enabled it to post a quarter of "consistent improvement in operational performance".
However, higher depreciation and amortisation, as well as lower financial income, dented the bottom line. It made a net loss of BRL96.4m, compared to BRL59.6m a year earlier.
Click here to view the release from Marfrig.
- Rise of prepared foods in US grocers - analysis
- Hershey results, outlook, M&A - the top takeaways
- How are brands organising for e-commerce?
- Free-from firm BFree Foods - bitesize interview
- More M&A likely at McCormick - editor's viewpoint
- Kellogg launches Special K breakfast quiches
- Hain Celestial eyes disposals, forms venture unit
- Dole faces DoJ probe over listeria outbreak
- Murray Goulburn accused of "misleading" the market
- Amplify Snack Brands acquires Boundless Nutrition