Exchange rates cost Bertin
20/03/2009
Brazilian meat, leather and dairy group Bertin has said it is happy with its results for 2008, in spite of registering a loss of more than US$300 million, compared to a profit of over US$100 million the year before.
Total earnings for the group amounted to US$3.3 billion, of which the leather part of the business contributed 11%.
The company said one of the main reasons for lower figures in 2008 was the fluctuation of the exchange rate between the dollar and the real. Executive director of the meat division, Evandro Miessi, said currency fluctuations had cost Bertin the equivalent of a loss of two months' worth of exports.
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