November 16, 2009

 

Brasil Foods posts Q3 profit of US$122.5 million

 

 

Brazilian food processing company Brasil Foods announced Thursday (Nov 12) its third quarter net income reached BRL211 million (US$122.5 million), compared with a proforma net loss of BRL52 million (US$30.2 million) a year ago.

 

The company had a sales volume of 1.4 million tonnes of processed meat products, dairy products and other processed foods during the third quarter.

The majority of its sales are worth BRL3.8 billion (US$2.2 billion) or 58 percent in the domestic market.

Exports generated BRL2.3 billion (US$1.3 billion). Brasil Foods said while exports revenue was hit by unfavourable exchange rates, the domestic market had benefitted.

Gross revenue reached BRL6.2 billion (US$3.6 billion) while gross profit was BRL1.1 billion (US$638.7 million).

The company, which controls about a quarter of the world's poultry market, was formed earlier this year by the merger of Brazil's top two poultry and pork processors, Perdigao and Sadia.