Protein giants report losses
Sadia and Perdigao, big Brazilian players in the poultry industry, have announced third-quarter net losses.
Perdigao has been struggling as the Real depreciates against the dollar. The company recently posted a net loss of 25.4 mln real (€9.2 mln; US$11.6 mln), compared with a net profit of 90.2 mln real ((€32.7 mln; US$42.5 mln) in the same period of 2007.
However, earnings before interest, taxes, depreciation and amortization grew over 20% to 274.9 mln real (€100 mln; $129.9 mln).
Sadia reported a net income drop of over 500%, posting a third-quarter net loss of 777.4 mln real (€282 mln; $365 mln). This compares with a profit of 188.4 mln real (€68 mln; $88.8 mln) in the same period last year.
Earnings before interest, taxes, depreciation and amortization fell slightly, to 272.3 mln real (€98.8 mln; $128.5 mln) from 273.2 mln real (€99 mln; $128.9 mln) a year ago.
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