National & World Ag News Headlines Brasil Foods Sees Strong Domestic Sales Growth USAgNet - 05/03/2012 Brasil Foods has announced its first quarter results, which include a 5.3 percent increase in revenue and net income of 153 million reals. While some key export markets were challenging, domestic sales were up 11 percent. The company has now been assigned an investment grade rating by all three leading rating agencies. BRF ended the first quarter 2012 reporting net sales of BRR6.3 billion, a year on year increase of 5.3 percent. Quarterly gross profits were BRR1.3 billion, a decline of 13 percent, primarily reflecting the challenges of the overseas market which saw a significant decline in prices. Net income in the quarter was BRR153.2 million while EBITDA reached BRR532 million, corresponding to a margin of 8.4 percent, compared with BRR816 million in the preceding year, same quarter, and a margin of 13.6 percent. The results reflected the challenging scenario in the export market, as had already been observed in the fourth quarter of 2011. Some key markets such as Japan and the Middle East continued to suffer from a process of adjustment and running down of levels of inventory and merchandise flows. Export revenues in the quarter were BRR2.4 billion, practically unchanged as compared with the same quarter last year. Conversely, the Company reported a good performance in sales to the domestic/retail market amounting to BRR3 billion, a growth of 11 percent, in spite of below-forecast consumption in the Brazilian retail sector overall. Similarly, the food service segment reported a good performance posting an increase in net sales of 10.4 percent. During the period, the Company launched 11 products between 'in natura' and processed lines for the major global networks, a savoury snacks platform, a grill line and rotisserie products. Send this article to a friend Other National Headlines Stricter Country-of-Origin Labels on Meat Imposed Senate Farm Bill Floor Consideration Begins House Ag Holds First Hearing in Process of CFTC Reauthorization Global Seed Treatment Market to Reach $4.45 Billion by 2018 Monsanto Launches Online Insect Forecasting Tool Johanns Offers, Cosponsors Amendments to Improve Farm Bill Wisconsin Raw Milk Trial to Continue into Next Week Copyright © 2013 - USAgNet.com. All Rights Reserved.