Marfrig’s operating profit reached $ 219 bn

Marfrig Global Foods more than doubled its operating results in the first quarter, advancing sales of beef to markets beyond China, a country strongly affected by the coronavirus in the period. Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) reached R$1.2 billion ($ 219 billion) in the period, a jump of 109% in the annual comparison.

Source: UOL Economia

Lojas Renner wins tax action of $ 247 mm

The fashion retailer Lojas Renner reported on Monday that it won a lawsuit in the Federal Court linked to the exclusion of ICMS from the PIS and Cofins calculation base. With the final judgment on Monday, the company stated that it had recognised the right to recover amounts determined between November 2001 and February 2017, totalling R$ 1.357 billion ($ 247 million).

Source: Money Times