JBS Sees Sharp Rise in Profits19 May 2015
BRAZIL – Brazilian based beef and food processing giant JBS has reported a 57.6 per cent rise in operating profit, EBIDTA, for the first quarter of the year reaching R$ 2.76 billion (reais).
Sales reached R$33.8 billion a rise of 28 per cent compared to the first quarter of 2014.
Net income was R $ 1.4 billion or R $ 0.48 per share.
Payments for the acquisitions of Primo Group in Australia and the Big Chicken in Brazil and the disbursement of extraordinary dividends to the minority shareholders of Pilgrim's was R $ 5.5 billion.
"Our strategy in recent years has allowed us to create a global production platform,” said Wesley Batista, CEO Global JBS.
“Today we operate with a diversified portfolio of products and with a strong brand worldwide. This strategy has allowed us to generate increasingly solid and consistent results."
He said the company's management remains focused on operational excellence, quality of its products and services through a management committed to creating value for its shareholders and the opportunity for a better future for all its employees.
ThePigSite News Desk