Brazilian JBS improve financial statements beyond expectations, though Joesley Batista goes to jail again

Good news and bad news as well. The good one first. The company’s Brazilian division, along with Seara, which advertises and sells finished food commodities, are boosting the financial assets of JBS. In fact, in the first 9 months of 2018 net incomes, reached by the meat multinational enterprise, nearly amounted to 49,4 billion reals (around 11,6 billion euros), that is, they increased by about 20% on annual basis. Figures about Ebitda are even more rewarding, since revenues have reached 4,4 billion reals (around 1 billion euros): for the records, financial analysts were expecting the company to achieve 4,03 billion reals. Nevertheless, JBS are affected by bad news as well. As reported by international press, allegedly Joesley Batista, former president of the multinational corporation, was put in jail, on November 9, after police investigation. 18 people have been arrested in total. The Brazilian manager, who had been released from prison last year in March, is currently involved, together with his brother, Wesley, in a big corruption scandal, the Lava Jato case: his going back to jail is related to the same investigation.


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