Marfrig posts record net revenue of R$ 5.52 billion in 3Q11
The Marfrig Group, one of the largest global food companies based on beef, pork, poultry and fish, announced record net revenues in the third quarter of fiscal 2011. Operating cash flow totaled R$ 310.5 million, 184% up from the previous quarter.
“The third quarter of 2011 marked an important step towards the consolidation of Marfrig's long-term strategy,” stated Marcos Antonio Molina dos Santos, CEO and chairman of the Brazilian company. “The company improved its operational efficiency, with the capture of synergies among the business divisions, reduced costs and expenses and generated R$310.5 million in operating cash flow, all of which underlines our management team's commitment to delivering consistent results and creating value for our shareholders. Despite all the setbacks and uncertainties in the global economic scenario throughout the quarter, including inflationary pressure in the countries where we operate, exchange rate volatility and still high grain and cattle prices, we recorded robust net revenue growth of 45.1% over 3Q10 and of 3.8% over the previous quarter.