Brazil’s Food Company Marfrig is Out of the Red

Brazil's Marfrig Marfrig Alimentos, a Brazilian operating in the food sector, which has strong interests in neighboring countries Uruguay and Argentina, turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.

Marfrig Alimentos reported on Monday net income of 200.5 million reais (115.6 million US dollars) in the third quarter, compared with a net loss of 52.69 million reais a year ago.

Earnings before interest, tax, depreciation and amortization, a measure of cash flow and operational profitability known as EBITDA, rose 59% to 272.53 million reais from 171.45 million reais in the same quarter of 2008, the company said in a regulatory filing.

Poultry production jumped 131% in the third quarter of this year from one year ago, while beef production rose 14.5% and pork production gained 15.4%. Results were helped by recent acquisitions, the company said in a statement.

The company is one of the world's largest beef producers and has made about 40 acquisitions in the past three years. Most recently, it bought indebted Brazilian poultry export company Seara from US commodities company Cargill Inc in September for roughly US$ 900 million.

In the same month, it announced deals to buy a 51% stake in Uruguay-based leather producer Zenda and to lease 12 plants owned by Brazilian meat rivals.



  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Iraqi President Welcomes in Baghdad New Brazilian Ambassador

Bernardo de Azevedo Brito, the new Brazilian ambassador to Iraq, presented his credentials, Tuesday, ...

Brazil Makes Its Case to Saudis that Brazilian Agribusiness Is Good for Them

Brazil's Ministry of Agriculture, Livestock and Supply is going to promote a seminar on ...

Brazil: Confessed Killer of US Nun Says He Was Hired by Nun’s Friend

In deposition that lasted four hours, Rayfran das Neves Sales, 28 years old, admitted ...

Brazil Has 15% of the World’s Children Working in Mines: 146,000

A study by the International Labor Organization (ILO) reveals that one million children and ...

Brazil has its biggest dollar reserve ever: over US$ 100 billion

With US$ 100 Billion in Reserves Brazil Says It Got Turbulence Vaccine

Brazil's foreign trade reserves have exceeded the US$ 100 billion barrier for the first ...

No New Scandal, Brazil Relaxes and Market Soars

Brazilian and Latin American shares moved solidly higher alongside strength in U.S. markets. The ...

Brazil Usmatic

Brazil Mission to Africa Brings Over 500 Contacts and US$ 36 Million in Deals

The Brazilian trade mission to North Africa, which ended, Tuesday, June 5, should yield ...

Brazilian Police Sweep 13 States in Search of Software Pirates

About 350 Brazilian federal agents swung into action today in a multi-state operation to ...

Towns Gold Built

When Americans and Russians started to explore outer space, we gave Marshall an old ...

Best-seller books, plays & movies

PLAYS Alô? Madame!… — It all starts when two friends get a phone number ...