Doux Frangosul exports down 7.4%
Doux Frangosul filed a 4% fall in gross revenue in 2011, to R$ 1.46 billion. Exports fell by 7.4%, to R$ 1.06 billion, while domestic sales grew by 6.1%, to R$ 402.1 million.
Net income also fell by 4%, to R$ 1.4 billion, while gross margins decreased from 25.4% to 24%. The result was also hampered by an increase from R$ 82.6 million to R$ 125.6 million in net financial expenses.
The balance sheet for Doux filed R$ 312.9 million in "recoverable taxes," generated mainly by exports. The report by the independent auditors Baker Tilly Brasil, however, raises questions about the real possibility of recovery of such amounts, taking into account the operations to transfer almost all the company’s operating activities.
Information provided by Valor Economico