Brazilian footwear producer Grendene has reported a 46.4 per cent plummet in fourth-quarter export revenue to BRL51 million.

The company said the revenue fall was mainly attributable to depreciation of the US dollar, which fell 7.1 per cent against the Brazilian Real.

Grendene reported a 29.5 per cent drop in fourth-quarter profit, largely because of the stronger Real.

The share of exports in the company's total sales figure decreased to 21.7 per cent from 31.6 per cent.