Perdigao's Third Quarter Profits Grow 140%12 November 2005
Perdigao (NYSE: PDA) ended the third quarter 2005 posting net income of R$ 96.6 million, equivalent to an increase of 140% compared to the same period in the previous fiscal year. Sales volume to the overseas and domestic markets made a significant contribution to this result, reporting increases of 16.2% and 10.8%, respectively. "The good performance in sales volume to the overseas and domestic markets was responsible for stabilizing earnings in the quarter despite the strong appreciation of 21% in the Real against the U.S. dollar, resulting in a pressure in export revenue in local currency terms," Wang Wei Chang, Perdigao's CFO, remarked. According to Wang Wei Chang, higher sales volume to the overseas market reflects the aggressive internationalization project, which the company has been implementing for more than three years now. This has resulted in the consolidation of the Company's position in traditional markets, the capturing of new customers and markets, as well as the launching of new products. In the domestic market, the increase in sales volume has been driven principally by sales of processed products, which grew 7.4%, and by in-natura products, which registered a sharp growth of 47.5%. HIGHLIGHTS OF THE QUARTER R$ million 3rd quarter3rd quarter % Change 2005 2004 Gross Sales 1,459.9 1,378.3 5.9 Domestic Market 717.3 677.2 5.9 Exports 742.6 701.2 5.9 Net Sales 1,286.8 1,212.3 6.1 Gross Profit 365.2 310.917.5 EBIT137.6 87.856.8 Net Income96.6 40.3 139.9 EPS* 2.2 0.9 139.9 EBITDA 165.8 113.645.9 Capital Expenditures58.6 26.4 121.9 * Earnings per Share EQUITY MARKET Perdigao's shares and ADRs performed above the principal Brazilian and international indexes. In the quarter, share prices rose 41% against 26.1% for the Ibovespa. In the quarter, the Dow Jones Industrial Average grew 2.9%, while Perdigao's, ADRs rallied 48.1% over the same period. For the release in full please access http://www.perdigao.com.br/ri/eng or contact Edina Biava or Gabriela Las Casas, Investor Relations, +011-55-11-3718-5301 or 3718-5791. Perdigao S.A., PRGA4 and PRGA3 (BOVESPA), and PDA (NYSE), is one of the largest food companies of Latin America and one of the largest meat processors in the world, exporting to over 100 countries.
Source: PR Newswire
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