|Bid||5.50 x 21500|
|Ask||0.00 x 27000|
|Day's Range||6.03 - 6.25|
|52 Week Range||5.70 - 15.50|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Previ, Brazil’s biggest pension fund, sent a letter in February demanding BRF Chairman Abilio Diniz convene a shareholder meeting to remove the entire board, including himself. After a two-month fight, Previ got its way: Investors voted in five new directors and replaced Diniz with Pedro Parente, who’s credited with turning around the country’s state-owned oil company, Petroleo Brasileiro SA. “BRF kept showing successive results that were a concern for us as shareholders,” Gueitiro Matsuo Genso, Previ’s chief executive officer, said in an interview in Sao Paulo.
Rising grain prices and trade bans in key markets have stymied management efforts to put BRF SA in the black, Chief Executive Officer Lorival Nogueira Luz said on Friday, as the food company failed to turn a profit for the second quarter in a row. Managers said animal feed prices rose further in the second quarter, boosting production costs for the world's largest chicken exporter. "This should continue to impact our production costs in the second quarter," he said .
The price of animal feed continued to rise in the second quarter, which increased production costs for Brazil's BRF SA, Chief Executive Lorival Luz said on Friday during a discussion of the food company's ...
The Sao Paulo-based company said it had a loss of 5 cents per share. The chicken, beef and pork producer posted revenue of $1.82 billion in the period. BRF shares have fallen 39 percent since the beginning ...
Brazilian food company BRF SA on Thursday reported its second consecutive quarterly loss as the firm reels from a food safety scandal that prompted trade bans and led it to reduce production capacity at five plants. BRF said it lost 114 million reais ($32 million) last quarter, missing a consensus estimate for net income of 14.99 million reais. BRF, Brazil's largest chicken processor, also missed a consensus estimate for earnings before interest, tax, depreciation and amortization, a gauge of operating profit, which came in at 783 million reais, some 7 percent below forecast.
The top shareholders of BRF SA said on Friday they will give the food company's new board leeway to kick off a turnaround after two years of net losses partially caused by a food safety scandal and mismanagement of feed inventory. Pension funds Previ and Petros, which own a combined 22 percent of the food processor, also said completion of the board overhaul this week ended a long boardroom battle waged by shareholders with dissenting views on how to rescue the company from its self-inflicted problems.
Pension funds Petros and Previ, which proposed the overhaul of the board of Brazilian food company BRF SA after problems including its involvement in a food safety scandal, vowed not to interfere with ...
Abilio Diniz, who owns 4 percent of food processor BRF SA, said the company's involvement in a food safety probe and mismanagement of feed inventories that led to billions in losses cannot be blamed on the firm's board or managers. "The difficulties faced by the firm would have occurred with any board and with any management," Diniz said on a Friday conference call with journalists. It took place one day after he was replaced by Pedro Parente as chairman of the world's largest poultry exporter.
Shareholders of Brazil's BRF SA elected Pedro Parente as chairman on Thursday, part of a broad board overhaul targeting a turnaround at the food company in the wake of a food safety probe that caused plant ...
The chief executive of Brazilian food processor BRF SA, José Aurélio Drummond Jr, has resigned, the company said in a securities filing on Monday. BRF, one of the world's largest poultry processors, said ...
The board of Brazilian food company BRF SA has endorsed a list of 10 candidates ahead of a vote on a new set of directors, the company said on Friday, suggesting top shareholders have reached a consensus on its composition. Brazil's largest chicken processor said in a securities filing that the board is in favor of the election of the list of 10 candidates in case Aberdeen Asset Management PLC withdraws an application for the adoption of a cumulative vote system, under which candidates are elected individually. "For us this is a matter of principle - that boards are accountable to their shareholders.
Shareholders with a combined 32.8 percent stake in Brazilian food processor BRF SA (BRFS3.SA) have agreed to jointly vote for 10 new members of the board of directors, led by Pedro Parente as chairman, BRF said on Thursday in a filing. Parente, chief executive officer of state-run oil firm Petrobras (PETR4.SA), on Wednesday accepted the invitation of the group to become chairman of BRF, opening the way for a swift resolution to the troubled company's leadership dispute. BRF shareholders will vote on the election of new board members on April 26.
The European Union intends to ban imports from 12 Brazilian plants operated by food processor BRF SA, which were previously authorized to export meat to the bloc, according to a draft document of the decision seen by Reuters on Thursday. It was not immediately clear whether the draft document was amended after a committee of the European Commission discussed the matter. European Union states unanimously voted on Thursday to ban imports of the Brazilian meat products, mostly poultry, but the EC declined to reveal the names of the companies affected until the decision is formally implemented.
A Brazilian trade group said 12 plants operated by food company BRF SA have been targeted by a European Union ban on poultry imports from the South American country. Ricardo Santin, vice president of markets ...
Latin American currencies fell against the dollar on Thursday, with the Mexican peso and Brazilian real posting the strongest falls, as traders took advantage of an opportunity to make a technical correction ...
Abilio Diniz, the current chairman of Brazilian food processor BRF SA, has invited Pedro Parente to replace him, Diniz's investment firm Península Participações said in a statement late on Wednesday. Parente ...
Pedro Parente, lauded for turning around Brazil’s state-oil giant Petrobras SA, agreed to become chairman of struggling food conglomerate BRF SA, a breakthrough that may end several weeks of fighting among shareholders over who will sit on its board. The 65-year-old chief executive officer, who was previously a government minister and top manager at crop trader Bunge Ltd., has been brought in by BRF’s current chairman, billionaire Abilio Diniz, in an attempt to pull the company out of an unprecedented crisis. Pension funds Previ and Petros, which together own about 22 percent of BRF, have been trying to oust Diniz and replace the entire board amid mounting losses and curbs on BRF’s meat exports following a food-safety scandal.
Brazil's largest chicken processor BRF SA (BRFS3.SA) has been allowed to resume production at nine plants that export to the European Union, the Ministry of Agriculture said on Wednesday, a day before a potential EU ban related to a food safety scandal. Later in the day shares soared almost 10 percent after a news outlet reported Pedro Parente, chief executive of oil company Petroleo Brasileiro SA (PETR4.SA), could be the food processor's next board chairman. The embargo had affected 10 production units, BRF said at the time.
Brazil's largest chicken processor BRF SA has been allowed to resume production at nine plants that export to the European Union, the Ministry of Agriculture said on Wednesday, a day before a potential EU ban related to a food safety scandal. Later in the day shares soared almost 10 percent after a news outlet reported Pedro Parente, chief executive of oil company Petroleo Brasileiro SA, could be the food processor's next board chairman. The embargo had affected 10 production units, BRF said at the time.
Fading fears of a global trade war sparked demand for emerging market assets on Wednesday, lifting Latin American stocks and currencies. After weeks of a hectic back-and-forth between China and the United ...
The Brazilian agriculture ministry will allow food company BRF SA, which was involved in a food safety scandal, to resume production at certain plants that export to the European Union, according to an ...
A major shareholder in embattled food processor BRF SA said on Tuesday that a prolonged leadership struggle could damage plans for a turnaround as the company prepares to overhaul its board of directors later this month. Luiz Fernando Furlan, the 15th largest shareholder of BRF, in a conference call on Tuesday said the company needs a board that will work as a team.
BRASÍLIA (Reuters) - The European Union is planning to block exports from nine BRF SA (BRFS3.SA) poultry plants to the trade bloc and may also revoke import credentials for other Brazilian chicken plants, Brazil's agriculture minister said on Tuesday. Minister Blairo Maggi said Brazil would launch an effort to appeal the ban before the World Trade Organization. "This issue of a trade war, we have seen the United States with 'America first' but there is also 'Europe first,'" Maggi said.