Brazilian food company BRF Brasil Foods has reported that its net earnings for the second quarter totaled BRL6.4m($3.16m),compared to BRL498m($246m)for the same period in 2011.
The company posted 8.7%increase in net sales to BRL6.8bn($3.36bn),compared to BRL6.29bn($3.11bn)for the corresponding period in 2011.
The company said in addition to tough economic environment,the quarter results are impacted by the implementation of initiatives,signed with Brazilian anti-trust Administrative Council for Economic Defense(CADE),which include transitory costs,a temporary drop in the efficiency of operations.
Sales revenue for the company's Dairy Products and Food Service segments increased by 9.2%to BRL702m($347.7m)and 9.3%to BRL353m($174.8m)respectively,compared to same period in 2011.
During the period,BRF introduced 168 products in various segments of operations-Brazilian retailing,food service,international market-in meat and dairy products segment.
BRF Brasil Foods said that the net sales for the six months period increased by 6.9%to BRL13.18bn($6.52bn),compared to BRL12.32bn($6.1bn)in 2011.Net income for the period totaled BRL160m($79.2m),compared to BRL881m($436.4m)for the corresponding period in 2011.
