Brazil’s BRF reports strong first quarter across divisions
Sales, earnings rise across business segments
BRF finished the first quarter of 2014 with growth in earnings before interest, taxes, depreciation and amortization 7.1 percent higher at BRL861 million (US$387.9 million). Net profits for the period reached BRL314 million (US$141 million), up from BRL208 million (US$93.4 million) for the last period in 2013.
The company exported 535,300 tons of protein with a value of BRL3.1 billion (US$1.39 billion), a significant increase from the first quarter of 2013. On the home market, sales reached BRL3.2 billlion (US$1.44 billion), 3.6 percent up on 2013. The company notes that it has seen growth across all its divisions during the first quarter, with its food service offering growing by 14.4 percent.