Brazil-based meat processor Marfrig has swung to a loss in the first quarter of 2009 despite seeing sales more than double.

Marfrig, which  is among the world’s top ten poultry processors, booked a first0quarter net loss of BRL38.2m (US$18.1m), compared to net income of BRL25m in the first three months of 2008.

Gross margins stood at 13.9%, down 620 basis points on the figure file for the first quarter of 2008.

However, net revenue jumped by almost 111% to BRL2.25bn, while EBITDA reached BRL163.5m – up over 28% on the year.

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