Marfrig plans to focus ion Brazil to boost sales

Marfrig Alimentos SA returned to a profit last quarter and said it plans to focus more on growing demand in the Brazilian market to boost future sales.

Marfrig’s $706.2 mln acquisition of the Seara poultry and pork businesses from Cargill Inc. will help fuel local sales, CEO Marcos Molina said, adding that the company will also seek to expand the Seara brand abroad.

“We are looking for a more balanced sales profile, like 50-50 between domestic demand and exports,” said Molina. “We officially took over Seara on January 4 and have plans to boost sales of its value-added products.”

Bloomberg reports that the company said that it returned to a profit in the fourth quarter after sales rose and a stronger Brazilian currency boosted financial gains. Exports in the period, which exclude Seara sales, accounted for 35% of revenue.

Net income of 111.7 mln reais compared with a loss of 74.3 mln reais in the year-earlier period. Net sales rose 6.8% in the quarter to 2.56 bln. Full-year revenue rose 55% to 9.62 bln reais.

Source: Bloomberg