Marfrig Alimentos' stock up 54% since June 1 amid hope that company's operating performance will improve in the coming quarters
June 16, 2014
– Shares in Brazilian meat processing company Marfrig (BVMF:MRFG3) have accumulated a 53.73% rise since the beginning of June, after closing 1.31% up at BRL 6.15 in Sao Paulo on Friday.
Last week, the company's stock added 6.96%.
In the first quarter of 2014, Marfrig deepened its loss to BRL 96.4 million (USD 43.3m/EUR 32m) from BRL 59.6 million a year ago. However, analysts and investors ignored the figures and expressed hope that the company's operating performance would improve in the next quarters, which was a reason for the stock jump.
According to Marfrig's president Sergio Rial, analysts traditionally take into account the final results, but the company is showing that it is on track to meet its main target to add value to shareholders via dividends.
(BRL 1 = USD 0.450/EUR 0.332)
(c) 2014 AII Data Processing Ltd. All Rights Reserved. News Digest Produced by AII Data processing Ltd.