A focus on selling more yoghurt and cheese has boosted annual earnings at Brazilian dairy processor Vigor.
The company yesterday (6 March) booked a 54% rise in EBITDA for 2012 to BRL68m (US$34.6m) after a year of focusing on “higher value-added” products and cutting its output of UHT milk, Vigor said.
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The processor filed net income of BRL30.7m for 2012, compared to a loss of BRL7.6m. Vigor benefited from a new hedging policy against exchange rate fluctuations.
The decision to produce less UHT milk meant Vigor’s sales volumes were lower year-on-year but its sales were up 10.1% at BRL351.4m.
In 2012, Vigor acquired cheese firm Laticínios MB, a producer of “speciality” cheese and a company that will support the dairy group’s entry into markets in the north east of Brazil.
Last month, Vigor, in which Brazilian meat giant JBS owns a stake after floating the business last year, said it had snapped up a 50% stake in local dairy rival Itambe.
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