USA: Perdigao Takes Bigger Bite of Brazilian Food Market
Perdigao S.A. (OTC Bulletin Board: PDGOY), one of Brazil's food companies, today reported first half 2000 net income up 7.4 percent to R$ 11.3 million. Consolidated sales came to R$ 934.7 million, representing growth of 14.8 percent under Corporate Law.The performance drivers for the half were a 23.1 percent increase in the volume of meat sales, and even higher sales of other processed products such as ready-to-eat dishes (pastas, pizzas, etc.) that have become increasingly significant factors in Perdigao's financial results."Despite our favorable numbers, the Company's results for the six months were held in check by lower prices, especially in the export markets, and higher costs for our main raw materials -- corn and soybeans -- which remained at levels above those of last year, squeezing margins of the sector", Chief Financial Officer Wang Wei Chang said.Total investments during the six-month period reached R$ 126.2 million, directed mainly to the Buriti Project, in Rio Verde, Goias state, to the acquisition and expansion of Frigorifico Batavia, and modernization and enlargement of the Lages plant in Santa Catarina state, where frozen ready-to-eat pasta production lines are being installed.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- UK's Bakkavor plays down IPO "speculation"
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs