Brazilian meat processor BRF posts $115 mln fourth-quarter loss
March 1, 2023
Brazil’s BRF reported a 601 million real ($114.7 mln) net loss in the fourth quarter on Tuesday, significantly above a loss of 130.62 million reais forecast by analysts, as management scrambles to improve the company’s operating performance
by Ana Mano – Reuters
The result marked the fourth consecutive quarterly loss for the company, which is Brazil’s biggest chicken exporter.
The 601 million net loss does not factor in the accounting effects of hyperinflation in Turkey, which management said would be positive, nor the one-off impact of a leniency agreement BRF signed last year to settle graft accusations, which would be negative.
“BRF management told journalists the company plans to sell up to 4 billion reais in non-core assets this year in a bid to cut debt”
Posted in Industry
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