Brazilian meat group Marfrig has seen sales and operating profits rise in the first quarter – but net losses also mounted in the period.
The company said sales in the three months rose 9.4% while EBITDA increased 7.2%.
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Marfrig stressed a “solid performance” from all its operating units enabled it to post a quarter of “consistent improvement in operational performance”.
However, higher depreciation and amortisation, as well as lower financial income, dented the bottom line. It made a net loss of BRL96.4m, compared to BRL59.6m a year earlier.
Click here to view the release from Marfrig.
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