Brazil-based meat processor JBS has reported a first-half profit of over BRL285m (US$140.6m), swinging from a loss of BRL34m a year earlier.
An expansion of JBS’s domestic beef capacity and a move into poultry in its home market boosted sales and contributed to its improved bottom line.
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JBS booked net revenue of BRL34.5bn for the first six months of the year, up 17.7% on the year before.
Consolidated EBITDA was BRL1.71bn, an increase of 20.1% on the first half of 2011.
The company recorded net income of BRL285.6m, compared to a loss of BRL33.8m a year ago when losses at its US poultry unit Pilgrim’s Pride hit earnings.
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By GlobalData
