Brazilian analysts expect strong results for the Brazilian agribusiness companies for the second quarter of 2011. According to Itau-Unibanco research, these results are prompted by strong prices for agricultural commodities, not fully reflected in the cost of raw materials.
SLC and San Martinho are among the top performers, with sustained higher margins. Heringer’s results should come neutral, due to a seasonally weaker quarter.
Raizen – reflecting synergies already?
This quarter Cosan will include one month of results from Raizen, incorporating synergies of Esso and Shell’s combined fuel distribution operations. As at this point, visibility of consolidated figures is still low, better than expected synergies could trigger a positive reaction in the market.
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