Brazil's BRF Shares Rise Almost 14% After Strong Q1 Results
Shares in Brazilian pork and chicken processor BRF SA rose almost 14% in early afternoon trade on Wednesday after the company reported strong quarterly results on better pricing in export markets and lower grain costs.
The company said it earned a net 594 million real ($116.88 million) in the first quarter, which is seasonally weaker than the preceding one, beating the average of analysts' expectations of a 449.79 million real gain.
Analysts at BTG Pactual said in a note to clients that BRF's performance was "impressive."...
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