SAO PAULO, Feb 27 (Reuters) - Brazil’s BRF SA, the world’s largest chicken exporter, posted lower-than-expected net profit for the fourth quarter of 2013 amid low holiday sales, weak exports to some regions and costs related to reorganization.
BRF’s profit was 208 million reais ($89.5 million), well below the expectations of 313 million reais in a Reuters poll and 63 percent below the 563 million reais posted in the year-earlier period.
Earnings before interest, taxes, depreciation and amortization (EBIDTA), a widely followed indicator of a company’s cash flow, fell 24 percent from a year ago to 773 million reais. The result missed analysts’ average estimate of 989 million reais.
Analysts expect BRF’s results to be volatile this year as it changes focus and makes staff changes under Chairman Abilio Diniz and Chief Executive Officer Claudio Galeazzi, who are committed to making the company an international brand.
$1 = 2.3225 reais Reporting by Fabiola Gomes and Caroline Stauffer; Editing by Jonathan Oatis