Home Agribusiness BRF Has A Net Loss of R $113 Million in Continuing Operations in the Q1

BRF Has A Net Loss of R $113 Million in Continuing Operations in the Q1

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BRF, the country‘s largest chicken processor, closed the first quarter with a net loss of 113 million reais in continuing operations, reducing the loss compared to the same period in 2018, when it had a negative result of 133 million Reais, according to data released on Friday.

Net loss on the company, however, amounted to R $1.012 billion, a jump from a loss of R $62 million a year earlier, mainly due to a write-off of R $863 million related to the sale of assets in Argentina.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) were positive at R $748 million in the first three months of this year, up 9.3 percent from the first quarter of the previous year.