Beef demand boosts JBS figures for Q1
15/05/2014
Over the three-month period, the Brazilian group registered earnings of just under $12 billion, up by 35.3% compared to the same quarter in 2013.
Earnings on this figure were more than $790 million, which represents an increase of 99% on the figure for the same period last year.
JBS slaughtered almost 4.5 million head of cattle in the first three months of this year, 2.3% more than in the same period in 2013.
The group’s leather-producing division, JBS Couros, reports its figures as part of wider group activities in the Mercosul economic community, which comprises its businesses in Argentina, Brazil, Paraguay and Uruguay. JBS Mercosul reported revenues, from beef and leather together, of almost $2.6 billion for the quarter, 15.2% up year on year. “This result is because of increases in sales prices, thanks to strong demand in the domestic market for beef,” JBS said.
JBS Couros runs 25 tanneries, 19 of them in Brazil. It employs 10,000 of the group’s 185,000 people. It came into existence in 2009 as a result of acquisitions. It is now the largest producer of leather in the world.
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