Brasil Foods Q2 profits rise 70%

Brasil Foods has reported a second quarter net income of R$29 million (US$69.89 million) this year, a 70% rise compared with the same period last year, according to a news report.

A recovery in international markets and better domestic market performance have been credited for the performance. Revenues from exports increased 5% over the first quarter of 2009.

Gross sales totaled R$3.1 billion (US$1.68 billion) in the second quarter, 4% down from the same period in 2008 and gross profits, at R$593 million (US$321.4 million), were 5% lower.