Brazilian food group Marfrig swung to a profit in 2009 as revenues jumped more than 50% and sales grew at home and abroad.
The company yesterday (31 March) recorded net income of BRL679.1m (US$381.2m) for 2009 compared to a net loss of BRL35.5m in 2008.
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Net revenue was up 55% to BRL9.61bn as sales in Brazil – which accounts for around 60% of turnover – jumped more than 71%. Exports climbed by more than 26%.
Marfrig’s domestic business was boosted in 2009 by a series of acquisitions including poultry group Seara Alimentos and a turkey business owned by France-based poultry giant Doux.
Marfrig posted operating income of BRL568.5m for 2009, against an operating loss of BRL236.5m a year earlier.
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