UPDATE 1-Brazil meatpacker Marfrig back in black, sees North America cattle prices up
Brazilian beef producer Marfrig on Wednesday posted a 62.6 million reais ($12.19 million) net profit in the first quarter, reversing a 634 million reais loss from a year earlier, with revenues rising in all divisions and financial expenses falling. Marfrig reported net revenue, excluding assets in South America it has agreed to sell, of 30.4 billion reais ($5.9 billion), up 3.8% year-on-year, driven by increases in all its divisions - South America, North America and BRF. "The significant (EBITDA) growth is the result of robust performance by BRF, which compensated the profitability of the North America division," it said in the earnings statement.