By Ana Mano SAO PAULO, Nov 9 (Reuters) - Brazilian meals pr
By Ana Mano
SAO PAULO, Nov 9 (Reuters) – Brazilian meals processor BRF SA BRFS3.SAturned a third-quarter revenue driven by a robust efficiency in its house market, barely beating expectations, in line with a securities submitting on Monday.
BRF stated it earned 218.7 million reais ($40.61 million), versus analysts’ common estimate of 203.15 million reais in line with Refinitiv knowledge.
Internet income rose 17.5% to 9.9 billion reais, as the corporate elevated the typical worth of its merchandise. Gross sales quantity of processed meals and meats rose 0.7% within the quarter, to a 1.1 million tonnes, it added.
BRF, the world’s largest hen exporter, derived greater than half its gross sales from Brazil, the place internet income rose virtually 21%.
In Brazil, authorities money funds to assist the poor climate the pandemic boosted spending on meals, permitting BRF to go on greater grain costs to customers. This partly offset greater feed costs and COVID-19 associated bills, it stated.
Internationally, internet income rose 13.5%, however manufacturing changes for the pandemic continued to have an effect on operations. “In consequence, gross revenue and margins (have been) squeezed,” BRF stated of pandemic-related points that weighed on its export enterprise.
Within the Halal market BRF posted gross sales of 173,000 tonnes, little modified from the year-ago interval, as Saudi Arabia maintained import restrictions.
Greater grains prices and different dollar-denominated bills additionally affected its exports’ profitability, the corporate added.
($1 = 5.3858 reais)
(Reporting by Ana Mano in Sao Paulo Modifying by Chris Reese, Matthew Lewis and Richard Chang)
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