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.
Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba, Brazil October 1, 2019. REUTERS/Rodolfo Buhrer/File Photoreported a 601 million real 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.
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 aThe poultry and pork processor said its earnings before interest, tax, depreciation and amortization was 1.03 billion reais, marking a 38.8% yearly fall that also missed analyst expectations.On the operating front, BRF said overall sales volume grew 1.9% in the fourth quarter, traditionally a strong one due to the holiday season.
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