Parmalat Brasil, the Brazilian arm of troubled Italian food giant Parmalat, has posted a net loss of BRL235.7m (US$75.3m) for 2003.
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.