JBS net profit, net revenues up in 3Q 2014
Brazilian meat and poultry processor JBS SA reported a net profit of BRL 1.1 billion (US$428 million) in the third quarter of fiscal year 2014. The company also saw its net revenues reach BRL 30.8 billion (US$12.05 billion), a 27.1 percent improvement when compared to the same quarter of fiscal year 2014.
Net revenues for JBS USA Beef and JBS Merocosul, which includes Brazilian beef operations, both saw significant gains from a strong demand for beef products. JBS USA Beef saw the strongest gains, with net revenues up 24.7 percent, while JBS Mercosul net revenues improved 14.8 percent when compared to the third quarter of fiscal year 2013.
JBS Foods, the Brazilian subsidiary which includes pork, poultry and processed products, saw net revenues jump 17.2 percent when compared to the second quarter of 2014, reflecting an increase in sales volumes in all product lines, with the biggest gains being made in fresh pork.Making smaller improvements in net revenues were JBS USA Chicken, which saw its net revenues jump 5.8 percent on a year-over year basis, and JBS USA Pork, which had net revenues improve 3.8 percent from the third quarter of fiscal year 2013.