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March 11, 2015

Vigor books higher 2014 sales, profits

Brazilian dairy group Vigor has booked higher reported and underlying sales and profits for 2014.

By Beth Wright

Brazilian dairy group Vigor has booked higher reported and underlying sales and profits for 2014.

On a consolidated basis, which includes the contribution from its 50% stake in local peer Itambe, Vigor posted net income of BRL120m (US$38.6m), up from BRL25.7m in 2013. EBITDA stood at BRL354.9m, compared to BRL137.4m. 

Vigor saw its net revenue climb 63.2% to BRL2.69bn last year.

The company provided financial results, without the impact of its stake in Itambe.

?It made a net income of BRL66.1m in 2014, against a loss of BRL2.7m in 2013. EBITDA more than tripled from BRL65.6m to BRL204.3m last year.

Net revenue was up 23.2% at BRL1.53bn.

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CEO Gilberto Xandó called 2014 a "landmark year" for the business "with significant growth in its operations and [an] improvement of profitability".

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