Marfrig reports net loss for fourth quarter 2011
Chicken production down from 2010 numbers
Marfrig Group reported a net loss for the fourth quarter 2011 of R$138.6 million (US$76.5 million), compared to a net income of R$161.1 million (US$88.9 million) in the fourth quarter of 2010 and a net loss of R$540 million (US$298 million) in the third quarter of 2011, according to the company's latest financial report. For the whole of 2011, Marfrig posted a net loss of R$746.6 million (US$411.9 million).
Higher financial expenses, with non-cash impacts from currency translation due to the local-currency depreciation in the period, combined with the higher provision for interest expenses, were the main factors contributing to the net loss, according to the company.
Total chicken production in the Seara Foods division reached 250.9 million head in the fourth quarter, down 4.6 percent from the same quarter in 2010 and down 0.9 percent from the third quarter of 2011. Total turkey production hit 2.14 million head, down 1.5 percent from the fourth quarter of 2010 but up 45.9 percent from the third quarter of 2010.