JBS net revenue increases 5.8 percent in Q1
Company reports strong quarters for Pilgrim’s Pride, JBS USA Pork and JBS USA Beef segments
Jbs, the Brazil-based meat and poultry company, reported a 5.8 percent increase in net revenue for 2018 Q1 equal to BRL39.8 bn (US$ 10.5 bn).
The company reported a 43.5 percent year-over-year increase in net income for the first quarter of its 2018 fiscal year: BRL506.5 million (US$142 million) for the quarter, compared to the BRL353 million (US$98.9 million) reported for the same quarter of fiscal year 2017.
The company attributed that growth to the strong performance of its Pilgrim’s Pride, JBS USA Pork and JBS USA Beef segments.
Seara unit saw its net revenue decline 2.7 percent to BRL3.97 billion ($US1.1 billion). As far as export markets were concerned, fresh chicken volumes remained stable with 2.4 percent higher prices, and fresh pork volumes decreased by 25.6 percent, impacted by the temporary suspension of Brazilian exports to Russia.
Jbs Brazil posted net revenue of BRL 5.9 bn in 1Q18, a 4.7% reduction in relation to 1Q17, due to a reduction involumes as a consequence of the sale of JBS assets in Argentina, Paraguay and Uruguay.
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