Marfrig to boost sales in Brazil

Marfrig Alimentos SA returned to a profit last quarter and said it plans to focus more on growing demand in the Brazilian market to boost future sales.

Marfrig's US$706.2 million acquisition of the Seara poultry and pork businesses from Cargill Inc. will help fuel local sales, CEO Marcos Molina said, adding that the company will also seek to expand the Seara brand abroad.

"We are looking for a more balanced sales profile, like 50-50 between domestic demand and exports," said Molina.

According to reports, the company said that it returned to a profit in the fourth quarter after sales rose and a stronger Brazilian currency boosted financial gains. Exports in the period, which exclude Seara sales, accounted for 35% of revenue.

Net income of BRL111.7 million compared with a loss of BRL74.3 million in the year-earlier period. Net sales rose 6.8% in the quarter to BRL2.56 billion. Full-year revenue rose 55% to BRL9.62.