November 14, 2012
Brasil Foods estimates 10-20% increase in 2013 revenue
Brasil Foods, on Tuesday (Nov 13), estimated its 2013 revenue to increase 10-12%, with plans to invest BRL2 billion (US$975 million).
"We have an optimistic view for 2013," Chief Executive Jose Antonio Fay told investors and journalists at an event at the BM&FBovespa exchange in Sao Paulo.
Brasil Foods shares rose 2.5% to BRL37.31 (US$18) in early trading in Sao Paulo.
The Sao Paulo-based company has raised prices for its products in Brazil from 4-4.5% to help cover rising costs, Leopoldo Saboya, vice president of finance and investor relations said at the same event.
On Monday (Nov 12), Brasil Foods said third-quarter profit fell 75% to BRL91 million (US$44 million) from a year earlier as higher prices for corn, soy and other grains used as animal feed caused costs to rise.
