Brazil: JBS SA reports lower profit in Q2

JBS SA reports lower profit in Q2


BRAZIL, Sao Paulo. While JBS SA reported positive results of its 2015 fiscal second quarter ended 30 June, in terms of net revenue, gross income and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), the company’s Q2 net profit declined significantly compared to the same period last year.

On the positive side, JBS announced net revenue for the quarter of $11.047 bn., a 34.3% increase over the same quarter’s $8.225 bn. and gross income growth of 38% to $1.667 bn. with EBITDA up 47% from a year earlier, to $1.015 bn. However, the company’s profit declined 68.5% during the quarter versus last year, from $72.211 mill. to $22.745 mill. this year.

Wesley Batista, global CEO of JBS was optimistic about the overall results.

JBS recently made headlines with its announcement to acquire Cargill’s pork business for $1.45 bn. in addition to plans to buy Marfrig Global Foods SA’s Moy Park Ltd.’s poultry business as expansion remains a focus for the global firm.

Source: JBS SA


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