Brazilian meat and poultry company Marfrig posted a net loss of BRL194 million (US$49.1 million) during the fourth quarter of fiscal year 2015, an improvement of BRL90 million (US$22.8 million) when compared to the same period during fiscal year 2014.
For the year, Marfrig posted a net loss of BRL586 million (US$148.2 million), a year-over-year improvement of 20.8 percent.
Marfrig saw improvements to its financial results after the divestiture of Moy Park. Marfrig sold the European subsidiary Moy Park to Brazil-based rival company JBS for a price of US$1.5 billion. The transaction was finalized in September.
The company also saw its net revenue increase 18.5 percent during the fourth quarter of fiscal year 2015 when compared to the same period of fiscal year 2014. The company’s net revenue reached BRL5.2 billion (US$1.3 billion).
For the quarter, 47 percent of its revenues came from its U.S.-based subsidiary Keystone Foods, the 12th largest broiler company in the United States. According to the WATTAgNet Top Poultry Companies Database, Keystone Foods processed 19.6 million pounds of ready-to-cook chicken on a weekly basis in 2014.
The remaining 53 percent of Marfrig’s revenues for the quarter came from its beef units. Of that, 41 percent came from the Marfrig Beef Brazil unit and 12 percent of revenues were attributed to the Marfrig Beef International unit.