November 2, 2009

Brazilian meat company Marfrig Alimentos SA has announced its third quarter net income of BRL200.4 million (US$113.6 million), reversing the net loss of BRL52.7 million (US$29.8 million) recorded in the same period last year.

The results builds on the R$405.0 million recorded in 2Q09. Recorded net margin is at 8.3 percent, as compared to a negative-3.5 percent in 3Q08 and 16.8 percent in 2Q09. Net income year to date is BRL567.4 million, up 1,362.4 percent on BRL38.8 million in the same period a year earlier.

Recorded net revenue is at BRL2,402.6 million in 3Q09, up 57.7 percent from last year at BRL1,523.6 million and down 0.1 percent in relation to 2Q09 at BRL2,403.9 million, mainly due to the depreciation in the dollar against the real of 9.9 percent between 3Q09 and 2Q09.

Net revenue in the last 12 months (4Q08 to 3Q09) is at BRL9.45 billion, up 92.3 percent on the BRL4.90 billion recorded in the previous 12-month period (4Q07 to 3Q08), driven by acquisitions and operating performance in 2009.

Recorded gross income is at BRL367.8 million, up 29.1 percent and 13.5 percent in relation to last year at BRL284.9 million and 2Q09 at BRL324.2 million, respectively.

US$1 = BRL1.76 (Nov 2)