JBS closes its third quarter with positive results. The South American giant announced it has had net profits of 86 million USD. In other words, it completely covered the poor performance of the same quarter of 2018, when the company had lost 32 million USD. Revenue was also higher, with the group’s revenue growing by 5.6% and slightly missing the 12.5 billion USD revenue marker (actual amount was just above 12.4).
As a group, JBS’s revenue almost reached the 12.5 billion USD marker, and that’s thanks to its different divisions. JBS Brasil grew by 11.4% (about 2 billion USD), pushed by the performance of the local market (+15.5%), where beef specifically incremented by 8.8% in demand. The group also thanks the sub-division in charge of exports: +7.4%. JBS USA, which incremented its revenue by 4.2%, did so due to the “substantial availability of livestock in the USA and the strong demand for beef”, explains the company. Based on this performances and available data, JBS expects a “solid” future market for bovine products.
“We have started growing once more and have made acquisitions in the geographical areas where we want to be present. These will contribute to the target expansion of our product portfolio and brand, making both more valuable”, commented Gilberto Tomazoni, JBS’s CEO.