Brazilian poultry processor Brasil Foods has booked a jump in profits for the last three months of 2010, amid better sales at home and abroad.
The company yesterday (24 March) booked net income of BRL360.2m (US$217.1m) for the fourth quarter of 2010 – up from BRL22m a year earlier.
EBIT almost tripled, rising from BRL262m in the fourth quarter of 2009 to BRL781m in 2010. EBITDA more than doubled to BRL959m.
Net sales climbed 21% to BRL6.4bn, as domestic sales rose 22% to BRL4.01bn and export sales increased 18% to BRL2.39bn.
Brasil Foods, formed in 2009 when Brazilian food maker Perdigao acquired rival Sadia, said: “The good performance of the markets in which the company does business and the incorporation of the fruits of the first phase of synergies sustained growth despite the substantial impact from the rising costs of the company’s leading raw materials [of] corn and soybeans.”
On a pro-forma basis, based on if Sadia’s shares had been incorporated from the start of 2009, net income more than doubled on a pro-forma basis to BRL805m. EBITDA jumped 126% to BRL2.6bn and EBIT stood at BRL1.87bn – almost five times the level posted in 2009.
Net sales were up 8% at BRL22.68bn.
Click here for the full statement from Brasil Foods.