Marfrig ups revenue by 23% in Q1 2015
The Brazilian-based company said double-digit growth had been seen at each of its business units year-on-year (YOY).
Its Keystone and Moy Park businesses accounted for 59% of total revenue and 56% of adjusted EBITDA. Moy Park increased its volumes by 8% YOY - mainly in the UK and Ireland retail and foodservice channels, while Keystone saw significant volume uplift in the APMEA region - up 35%.
In terms of revenue, Keystone saw a 32.4% uplifted in Q1 2015 to US$661m, while net revenue at Moy Park rose 26.3% to US$353m. Marfrig Beef International saw a 11% rise to US$225m, Marfrig Beef Brazil’s export business pushed up sales by 12.2% to US$250m, while its domestic business saw a larger increase of 18.1% to US$1,066m.
Marfrig said the outlook for the remainder of 2015 for its beef export business is positive, and may see further opportunities with the potential opening of the Chinese and US markets to Brazilian fresh beef.