JBS turnover goes up by 16,5% in the first quarter: “Such figures show our ability to overcome adversities”

JBS business is going up in the United States, whereas, in contrast, revenues drop in Brazil. On the basis of such trends, José Batista Sobrinho, who has been appointed as new chief executive officer of the group after Wesley and Joesley brothers being banned, remarked that “the business diversification project, recently implemented, is proving to be effective”. In fact, in 2018 first quarter JBS turnover reached 5,1 billion reals (+16,5% on annual basis), and the meat corporation’s net profits amounted to 506,5 million reals (+43,5%). Batista Sobrinho himself pointed out that “such sound and sensible figures, which came up in the period, show our ability to get over difficulties”, therefore hinting at the Lava Jato investigative case. JBS also announced they signed an agreement with their creditors: the deal will secure their short-term debts, which amount to 12,2 billion reals, until 2021.


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