Brazilian beef group JBS has booked an increase in third-quarter profits as sales rose by almost one-quarter in the period.

The company said net profit rose to BRL367m (US$178m) in the three months, up from a loss of BRL67.5m in the comparable period of last year. EBITDA rose 75.2% to BRL1.38bn.

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Total group sales were BRL$19.4bn, up 24.% year-on-year. Gains were boosted by higher sales in its South American trading unit Mercosul, which rose to BRL4.6bn, up from BRL3.9bn.

“Much of the operating performance stemmed from the results JBS obtained in Mercosul,” the company said.

JBS added that its performance also improved in Australia and it had benefited from a “better equilibrium” between supply and demand during the period.

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