Prices boost revenues for JBS in Q3, despite decline in slaughter
13/11/2014
JBS Couros, the group’s tanning division, reports its results as part of those of the Latin American part of the business, JBS Mercosul. It has 25 tanneries in all, 19 of them in Brazil. The results fail to break down the standalone performance of JBS Couros, but the Mercosul division achieved revenues of around $2.5 billion in the third quarter of this year, an increase of 14.8% compared to the same quarter in 2013. According to JBS, the main reason for this increase was a rise in the prices it was able to negotiate this year, especially in overseas markets.
At the same time, JBS Mercosul achieved earnings for the quarter that were, at around $215 million, 15% lower than in the third quarter of 2013. It said this was because of having to pay a higher price for cattle from the livestock farmers it deals with.
JBS abattoirs in Latin America handled 6.1% fewer cattle than in the same quarter last year, because, the group said, fewer animals were available for slaughter. Across JBS globally, the group slaughtered 4.7 million cattle during the quarter.
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