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 16 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
- Analysis: Tyson's shrewd investment in Beyond Meat
- Price an underlying tension across European FMCG
- Danone's Q3 sales - what the analysts say
- Focus: Thai demographics drive health categories
- Interview: Some Foods on rise of low-FODMAP market
- Bel takes majority stake in MOM Group
- Mars launches Maltesers in the US
- Nestle lowers outlook on "softer environment"
- China milk powder arrests prompt Fonterra "review"
- Unilever in continuing price spat with Musgrave
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Packaged Food: Quarterly Statement Q3 2016
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review