Sales increased across M. Dias Brancos categories

Sales increased across M. Dias Branco's categories

Brazilian food group M. Dias Branco has booked an increase in profits for the first nine months of the year, although a spike in the cost of wheat hit margins.

The snacks and pasta manufacturer posted a 16.4% increase in net income to BRL392.6m (US$539.6m) for the period to the end of September. EBITDA was up 9.9% at BRL526.6m.

Revenue grew by 21.2% to BRL3.18bn, with sales up across of M. Dias Branco's product categories.

However, a 30.5% year-on-year rise in the group's wheat costs weighed on margins. M. Dias Branco said the spike in its wheat bill was the main factor in a 3.5 percentage point increase in its cost of goods sold.