SAO PAULO, Nov 13 (Reuters) - Brazilian pork and chicken
processor BRF posted on Wednesday a 1.1 billion real
($189.5 million) net profit for the third quarter, following a
262 million real loss for the same period last year.
Analysts expected a 1.3 billion real net profit for the
July-to-September period.
WHY IT'S IMPORTANT
BRF is one of the world's largest pork and chicken
processors.
BY THE NUMBERS
The company's core profits, or adjusted earnings before,
interest, taxes, depreciation and amortization (EBITDA), came in
at 3 billion reais, up nearly 150% year-on-year and almost in
line with the 2.9 billion reais expected by analysts polled by
LSEG.
Adjusted EBITDA margins rose to 19% from nearly 9%.
Net revenue increased some 12% to 15.5 billion reais,
with its key Brazilian business rising more than 10%.
KEY QUOTE
"The rising numbers are driven by efficiency gains,
expansion of export destinations and growth in the share of
processed products in (total) sales," said Chief Executive
Officer Miguel Gularte in a statement.
($1 = 5.8061 reais)