• Net loss of BRL214m
  • Operating loss of BRL278.1m
  • Net sales up 15.1%
Marfrig attributed the loss to the rise in its debt-service costs

Marfrig attributed the loss to the rise in its debt-service costs

Brazil-based food group Marfrig has swung to a net loss in the first six months of the year.

In the six months to the end of June, Marfrig booked a net loss of BRL214m (US$93.8m). This compared to earnings of BRL249.2m last year.

The company also booked an operating loss of BRL278.1m versus an operating profit of BRL54.8m in the prior year period.

Marfrig attributed the loss to the rise in its debt-service costs, which was impacted by the depreciation of the real against the US dollar. Its debt-service costs totalled BRL1.14bn, which was up against costs of BRL762.7m in 2012.

Sales in the period, however, climbed 15.1% to BRL8.83bn.

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