SAO PAULO, Oct. 27, 2016 /PRNewswire/ -- Even in an adverse business environment, BRF's net operating revenue was up 2.7% in the third quarter (Q3/16) year on year, to R$ 8.5 billion. The company sold more than 1.2 million tons of food worldwide in the period.
Between July and September BRF announced the creation of a subsidiary in Egypt, in order to begin advances in the value chain. It also formally began a partnership with FFP, a Halal meat processing company based in Malaysia, and signed an investment agreement worth US$ 20 million in the IPO for COFCO Meat, in order to increase its presence in China through strategic partnerships.
The Brazilian market remained very challenging in the period. Despite the fall in demand, net operating revenue in the region grew by 2.8% quarter on quarter, to R$ 3.6 billion.
The regional known as MENA Regional, comprising the Middle East and North Africa, filed net operating revenues of R$ 1.56 billion. During the period the company launched a new line of breaded products in the region - produced in Thailand - strengthening synergy throughout the chain.
Net operating revenue from Asia totaled R$ 1.28 billion, up by 68.5% year on year. This growth was mainly due to the consolidation of BRF Thailand and volume expansion in China and Southeast Asia.
Net operating revenue from Europe / Eurasia was just over R$ 963 million in Q3/16. The current scenario in the region is very challenging. Despite stable volumes in the region in the quarterly comparison, the strong exchange rate fall in the pound (-15.2% quarter on quarter) and the ruble (-5.6% quarter on quarter) against the Brazilian real, related to Brexit and the macroeconomic situation in Russia, respectively, negatively impacted the results.
Latam, which comprises all the countries of the Americas, except Brazil, grew by 11.5% quarter on quarter in the sale of higher value-added items. Net revenue in the region was R$ 550 million.
In Q3/16 Africa delivered volume growth of + 4.4% quarter on quarter, even in the face of a very challenging environment in its main market, Angola. Net operating revenue was R$ 191 million.
Reminder:
On April 4, 2016, BRF S.A. ("BRF") filed its Annual Report on Form 20-F for the year ended December 31, 2015 (the "Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC").
In compliance with the New York Stock Exchange rules, the Form 20-F is available on our website at http://www.brf-br.com. In addition, all shareholders of BRF may request, free of charge, a hard copy of BRF's complete audited financial statements filed with the SEC by contacting:
Investor Relations Department
BRF S.A.
Rua Hungria, 1400
01455-000 – São Paulo – SP – Brasil
Tel.: +55-11-2322-5052
E-mail: [email protected]
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SOURCE BRF S.A.
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