Renewed Appetite for Chicken in EU Boosts Brazil Perdigí£o’s Bottom Line

The revenues of food sector company Perdigão, a traditional Brazilian industry in the food sector, recovered in the third quarter of this year, according to figures disclosed by the company.

Revenues reached US$ 724 million (1.57 billion reais) between July and September, an increase of 13.2% when compared to the second quarter of last year.

Growth on the domestic market was the main generator of this performance, but the foreign market is giving signs of recovery. Perdigão is a large exporter of chicken, including to the Arab countries. Foreign shipments generated R$ 626.8 million (US$ 299 million), growth of 6% over the second quarter.

"In the foreign market, which shrank in the first half due to avian flu, gradual growth has been identified in the demand for poultry, and prices have risen on average 7% in dollar values," says a company statement.

According to Perdigão, this is due to a gradual expansion of consumption of poultry, mainly in Europe and the Middle East, and to adjustment in global stocks. In the accumulated value for the year, however, revenues of US$ 783 million (1.7 billion reais) with exports were 19.8% below the result for the same period in 2005.

On the domestic market, the company had revenues of US$ 432.7 million in the third quarter, an increase of 32.3% when compared to the same period last year and 18.5% when compared to the second quarter. Between January and September, revenues obtained in Brazil reached US 1.14 billion, 14.3% more than in the first nine months of 2005.

Various products contributed to the performance of the domestic market, mainly frozen and industrialized products. Among them are processed meat, ready pizzas, vegetables, cheese bread, soy-based vegetarian foods and margarines.

The company also announced that it made investment of US$ 75 million in the third quarter, being US$ 21 million invested in a new agroindustrial complex in the city of Mineiros, in the midwestern Brazilian state of Goiás, which should start operating in the first half of 2007.

In the first nine months of the year, investment reached US$ 234 million, 193.7% more than in the same period in 2005. Apart from the new factory, investment has also been made in the expansion of the production and slaughter capacity of other units.

"Perdigão has been strengthening the bases for sustainable growth during the year of 2006," according to the company statement. The organization closed the third quarter of the year with 37,720 employees, being 3,600 new.

Anba

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