Parmalat Brasil, the Brazilian arm of troubled Italian food giant Parmalat, has posted a net loss of BRL235.7m (US$75.3m) for 2003.
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Parmalat Brasil said its 2002 net loss was around BRL192m. Net revenues for 2003 were BRL1.7bn, roughly even with the previous year, reported Reuters.
The company is struggling to survive a massive financial scandal at its Italian parent company. This week a Brazilian court is set to evaluate Parmalat Brasil’s bankruptcy case.
