Brazil-based meat processor JBS has posted an increase in third-quarter sales and profits despite weakness in its US market.
JBS reported a profit of BRL3.4bn (US$903.4m) compared with $1.1bn for the same period a year earlier. Operating profit increased to $5.5bn from $1.8bn.
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Revenues were up 39% to $43bn.
The increases came despite lower sales in its JBS USA beef unit, its US pork operations and its Pilgrim's Pride poultry business.
Sales in JBS Foods rose 48% to $5bn and in Mercosul rose 10.5% to $7.1bn
"We had a quarter of sustainable sales growth, consistent operating results and robust cash generation and net income," stated Wesley Batista, CEO of JBS. "We have great confidence in our global food production platform which is being boosted by stronger an increased value-added product portfolio and with well-recognsed brands. We envisage several opportunities to expand our business in the prepared foods and value-added segment. To achieve this goal, we will continue to invest in high-quality products, innovation and brands."
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