Raw material, booming performance for JBS: Brazil-based multinational doubles net profits in the first quarter

JBS booms. The Brazilian giant active in the meat industry published its first-quarter results just a few days ago, and reported net profit up by 116% and revenues higher for all its segments. Net profits for the period January – March was of 243 million euro, double the number forecasted by analysts. Net revenue went up by 11.5%, reaching circa 9.9 billion euro, mostly thanks to the sales of bovine meat by the US-based subsidiary of JBS. The meat processing department also performed well, incrementing both revenue, by 7.4% to 1.5 billion euro and volume of units by 2.9%. The results achieved by JBS represent, according to the ceo Gilberto Tomazoni, “our discipline, coherence and efforts towards the value creation strategy we implement”. “Our business model and the strength of our strategy, focused on people, operational excellence and high-quality products, make us confident in the next quarters of the year – continues the manager -. JBS is well prepared and has all the tools to continue growing, taking advantage of all market opportunities. In line with this goal, we continue our ethical and responsible actions throughout the entire productive chain, investing in the improvement of transparency, sustainability and efficiency practices”.

 

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