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Renewed Appetite for Chicken in EU Boosts Brazil Perdigão's Bottom Line

by 5m Editor
30 November 2006, at 3:09pm

BRAZIL - The revenues of food sector company Perdigão, a traditional Brazilian industry in the food sector, recovered in the third quarter of this year, according to figures disclosed by the company.

Revenues reached US$ 724 million (1.57 billion reais) between July and September, an increase of 13.2% when compared to the second quarter of last year.

Growth on the domestic market was the main generator of this performance, but the foreign market is giving signs of recovery. Perdigão is a large exporter of chicken, including to the Arab countries. Foreign shipments generated R$ 626.8 million (US$ 299 million), growth of 6% over the second quarter.

"In the foreign market, which shrank in the first half due to avian flu, gradual growth has been identified in the demand for poultry, and prices have risen on average 7% in dollar values," says a company statement.

According to Perdigão, this is due to a gradual expansion of consumption of poultry, mainly in Europe and the Middle East, and to adjustment in global stocks. In the accumulated value for the year, however, revenues of US$ 783 million (1.7 billion reais) with exports were 19.8% below the result for the same period in 2005.

Source: BrazzilMag

5m Editor