International food company BRF Brasil Foods S.A. has reported a first-quarter net income of R$383 million (US$235.2 million) for 2011, a 527% increase from the same time in 2010, according to reports.
Elements contributing to this success include strategy for acquiring inputs against an environment of rising commodity prices, improvement in the management of the company's costs and expenses, synergies in areas authorized by the Brazilian anti-trust agency and improved performance in export markets, said Brasil Foods. Net sales reached R$6 billion (US$3.7 billion) for the first quarter of 2011, up 19.3% from the same time in 2010, while gross profit came to R$1.5 billion (US$921 million).
Brasil Foods also invested R$278 million (US$170.7 million) in improvement, replacement and productivity projects.
