JBS multiplies profits, though growth is not driven by bovine meat

JBS multiplies profits, though growth is not driven by bovine meat

JBS multiplies profits. In fact, in the third quarter of the year, profits made by the Brazilian meat giant turned out to be 9 times higher compared to one year ago. Apparently, growth is being driven by pork and chicken meat, whose sales enjoyed a boost in Brazil, in the USA and in China.

JBS multiplies profits

On Wednesday, JBS made public the results achieved in the third quarter. From July to September, the Brazilian company earned 3.133 billion reals (that is, around 581.2 million US dollars). In other words, revenues increased by 778% compared to 357 million reals made in 2019 third quarter. As reported by Reuters press agency, the company’s growth is being supposedly driven by heavy domestic demand and, on top of that, by meat sales, especially pork and chicken, in the United States and in China. Net turnover increased by over 34% as it reached 70 billion reals (that is, 12.98 billion dollars). All units achieved a positive performance.

The comment

“Long-term fundamentals, in our industry, can still rely on sound stability – remarked JBS in a statement reported by the same press agency –. Although we might be compelled to deal with a few occasional misalignments in short-term demand and supply in different areas, this is not going to change the current trend”.

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