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Brasil Foods reports USD44.3m profit in Q3  Join our daily free Newsletter

MENAFN - 13/11/2012

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(MENAFN) Brasil Foods SA (BRF) reported a lower quarterly profit on higher fodder costs, Bloomberg reported.

Brazil's largest maker of TV dinners and frozen pizza said it made USD44.3 million net profit during the third quarter, down from USD178.1 million a year earlier.

The company said that costs of goods sold climbed 21 percent to USD2.77 billion in the quarter.

BRF also said that chicken and swine fodder higher costs ate into its profit margins, as the prices for corn grew 12 percent, while prices of soybean increased 5.8 percent in the quarter, after the worst US drought in half a century scorched fields.

Earnings before interest, taxes, depreciation and amortization (EBITDA) dropped to 7.9 percent of sales, from 12 percent a year ago, BRF said.

 






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