Brazil’s Perdigao posts Q4 loss

25-03-2009 | |
Brazil’s Perdigao posts Q4 loss

Perdigao in Brazil has posted a net loss in the fourth-quarter of 20 mln real (US$8.9 mln, €65 mln).

The net loss of 20 mln real compares with a profit of 98 mln real in the same period of 2007.

Sales jumped 59% to 3.07 bln real, led by a surge in dairy products and processed meat.

The jump in sales helped push earnings before interest, taxes, depreciation and amortization, a key measure of cash flow known as EBITDA, 93% higher to 465 mln real from the same period a year ago.

But despite the jump in sales, Perdigao had 318 mln real net financial loss in the quarter, caused by a weaker Brazilian currency.

Source: Reuters

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Natalie Berkhout Freelance journalist