Brazilian meat giant JBS has booked a 12% fall in third-quarter earnings as raw-material costs and tax expenses jumped – but the company also reported rising operating profit and sales.

JBS, the world’s largest beef processor, posted net income of BRL133.5m (US$77.6m) for the three months to the end of September, down 11.9% on the year.

However, the meat group’s operating profit was up 28.9% at BRL281m, boosted by sales that climbed by more than two-thirds.

JBS’s third-quarter sales increased 67.9% to BRL14.07bn as revenues from its JBS Mercosul business – which covers Brazil, Argentina, Paraguay and Uruguay – more than doubled.

The Mercosul business accounts for 26% of JBS’s turnover. JBS USA beef – which also includes the Australia division – makes up 42% of revenues and saw its sales rise 18.1%.

For the full statement from JBS click here.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.