M. Dias Branco saw its sales and profits grow in 2016 as the Brazil-based biscuits-to-pasta supplier withstood the challenging economic conditions in its domestic market.
The company said moves including changes to the way it sells its products to increased spending in marketing had helped the business grow.
Net revenue was up 15.3% at BRL5.33bn (US$1.71bn). M. Dias Branco said its sales by volume rose 6%.
EBITDA climbed 33.9% to BRL919.4m, while the group’s net profit reached BRL784.4m, an increase of 29.9% on 2015.
“We are very pleased with our great achievements in the period despite the adverse macroeconomic conditions Brazil has been facing in the last few years, with deepening recession, high inflation and rising unemployment, all of which compromise the population’s available income and directly influence the performance of the food sector,” M. Dias Branco said.
Among the company’s moves to try to adapt to the economic conditions in Brazil was a decision for its sales teams to sell all of the company’s range compared to its previous policy of focusing on brands. M. Dias Branco said the move reduced its selling costs and led to “better negotiations” with clients. The group also sought to up its prices, leading to an average price increase of 8.8% on 2015.