May 5, 2008

 

Sadia Q1 profits up 123 percent
 

 

Major Brazilian meat processor Sadia reports a first quarter 2008 net profit of BRL 214.8 million (US$130.2 million), up 123.4 percent on-year.
 

Industralised products sales rose 15.8 percent to 243,101 tonnes with value up 21.2 percent to BRL 1.2 billion (US$727.4 million).

 

Poultry sales also increased 22.3 percent to BRL 1 billion (US$606 million) with sales volume expanding by 3.9 percent to 243,134 tonnes.

 

Gross operating income also increased by 20.3 percent to BRL 2.6 billion (US$1.5 billion) despite soaring grain prices, which Sadia offset through adjusting prices in the national market.

 

Sadia invested BRL 472 million (US$286.1 million) in the first quarter, up from BRL 177 million (US$107.3 million) in the first quarter of 2007.

 

The investment grade of Brazil would open up further overseas investment opportunities, according to Gilberto Tomazoni, president of Sadia.

 

Sadia is one of Brazil's leading chicken exporters and food companies.