Brasil Foods Reports Sales Decline, Waits For Go Ahead For Full Consolidation of Sadia

Brazil's largest food firm, Brasil Foods (BRF), formed after Perdigão agreed to acquire its debt-laden local rival Sadia in May 2009, has reported a drop in sales for 2009 after exports were hit by the downturn in the global economy. For the 12 months ending in December, net sales dropped by 5% to BRL20.94bn. The firm delivered net profits of BRL228mn, compared to a pro forma loss of BRL2.4bn in 2008. However, earnings before interest, tax, depreciation and amortisation (EBITDA) dropped by 47% to

To read the full article, please choose one of the following options: