In this file:

 

         Brazil's BRF admits Q1 disappointing

The pork and poultry processor is positive on remainder of year

 

         Brazil's BRF shares tumble after posting major Q1 losses

The company is looking to simplify its structure

 

 

Brazil's BRF admits Q1 disappointing

The pork and poultry processor is positive on remainder of year

 

By: Global Ag Media

via The Pig Site - 6 May 2022

 

Brazilian food processor BRF SA admitted to disappointing first-quarter results amid a rise in costs and inflation on its home market, which weighed on results momentarily and "don't reflect what the company truly is," CEO Lorival Luz said during a call with analysts on Thursday.

 

He added avian flu in the United States and the war in Ukraine, whose producers compete with Brazilian chicken suppliers like BRF, may reduce these countries' ability to serve their clients, which could benefit BRF, reported Reuters...

 

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https://www.thepigsite.com/news/2022/05/brazils-brf-admits-q1-disappointing

 

 

Brazil's BRF shares tumble after posting major Q1 losses

The company is looking to simplify its structure

 

By: Global Ag Media

via The Pig Site - 6 May 2022

 

Brazilian food processor BRF SA on Thursday attributed disappointing first-quarter results to a rise in costs and inflation in its domestic market, and vowed to boost its margins and return to profitability, reported Reuters.

 

In separate calls with analysts and journalists to discuss the results, BRF Chief Executive Officer Lorival Luz said management is preparing measures "to simplify" the company's structure, declining to elaborate.

 

He said the plan does not involve asset sales or factory closures.

 

"We will change the way we operate in all areas of the company, we will simplify processes and procedures," Luz said, adding that some of the measures will be introduced this month. "The aim is to become more dynamic and effective, to work with agility towards our goals of growing and posting profits in a sustainable way."

 

The poultry and pork processor posted a loss of 1.5 billion reais ($298.5 million) in the first quarter, and burned more than twice that amount in cash as it weathered the economic downturn in Brazil.

 

The results reflected poor food sales and margins in the South American country and the impact of a derivative-related write-off of 406 million reais.

 

BRF's new Chief Financial Officer Fabio Mariano said the expense tied to a corn derivative position had to be recognized in the first quarter.

 

"When we look back, it was not quite the right decision," he said in response to a question from Reuters, referring to the merit of that hedge position...

 

more

https://www.thepigsite.com/news/2022/05/brazils-brf-shares-tumble-after-posting-major-q1-losses