Brazil's BRF Still Seeking Partners In Saudi Arabia
Executives at Brazilian food company BRF SA recently traveled to Saudi Arabia to discuss ways in which to expand its presence in that key market, according to management remarks to journalists.
In a call to discuss quarterly results, Chairman Pedro Parente said BRF executives have met with local authorities and potential partners to explore opportunities to expand local meat production in that country.
Parente said no decision has been made yet on any potential deals.
On Friday, BRF reported net revenue of R$7.36 billion, a 4.7% increase year-on-year.
'The results delivered in the first quarter of 2019 evidence our disciplined execution of our long-term strategy,' the group said in a statement. 'Although grain prices increased by roughly 35% in the period, we continued to focus on recovering our historical profitability.'