Brazilian food group Brasil Foods booked an “important recovery” in its operating performance yesterday (12 May) when it announced that it returned to profitability in the first quarter.
The group, which was formed last year following the merger of Perdiago and Sadia, posted net income totalling BRL53m (US$29.2m), against a loss of BRL465.2m in the comparable period of last year.
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EBITDA jumped 148% jump in the period, rising to BRL447m.
Profitability increased during the period due to reduced costs and expenses as well as the completion of its integration plan, BRF said.
Revenue remained relatively flat, falling to BRL5.047bn from BRL5.061bn, as a “good domestic performance” in the quarter and a “gradual recovery” in exports reversed downward sales trends seen in the back half of last year.
Click here for the full results release, or check back later for coverage from BRF’s analyst conference call.
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