FX Trades Eat Into Food Co. Profits

30 Mar 2009

Steep currency derivative losses offset healthy fourth-quarter net sale gains at Sadia.

Steep currency derivative losses offset healthy fourth-quarter net sale gains at Sadia. The Brazilian food company suffered its first annual loss in its 64-year history after recording losses in the fourth quarter of BRL2.04 billion (USD890.1 million) despite seeing net sales jump 15.9% to BRL3.06 billion. For the ...

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