Net profit of Camil in 1st quarter falls 10%, to R $ 40.1 million

SAO PAULO-the Camil foods, one of the largest processors of Latin America companies, reported that it had in the quarter ended May 31 of this year, first quarter of its fiscal year 2014, a net income of r $ 40,168 million, 10.5% below the $ 44.9 million obtained in the same quarter of 2013.
The company's net income grew 8.4% to r $ 925,155 million, but the cost of sales grew 12.6% more, for R $ 688,683 million. The company's administrative expenses for the quarter also rose. Were r $ 47,069 million, 18% above the recorded in the same range of 2013.
In relation to the end of the preceding quarter, i.e. on 29 February this year, the debt with interest-bearing loans and borrowings grew 7.4%, the Camil the R $ 642,028 million, $ 249,925 million with maturity up to 1 year. On 31 May this year, the company's debt with debentures was virtually stable compared to the previous quarter at r $ 635,717 million, $ 195,030 million maturing in the short term.
The Camil had in the financial year ended 28 February this year a net profit of r $ 124.2 million, 8.8% lower than the r $ 136.5 million obtained in 2013. The result of the company, which owns brands of rice, sugar and fish, was penalized in the ano-fiscal by a 49% higher financial expense of r $ 185,4 million, while interest income rose 15 percent, to $ 65.8 million.
The company holds eleven grain processing units in Brazil, ten in Uruguay, three in Chile, two in Peru and one in Argentina, as well as three fish processing plants and six sugar processing plants, three of them own and three subcontractors, located in Brazil.