Lower slaughter but higher revenues for JBS in Q3 - leatherbiz: Leadin Leatherbiz

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Lower slaughter but higher revenues for JBS in Q3

12/11/2015
Lower slaughter but higher revenues for JBS in Q3
Packer and tanning group JBS has reported revenues of $11.4 billion for the third quarter of 2015, on which it registered earnings of just over $1 billion. These figures represent increases of almost 40% and 6% respectively compared to the those for the third quarter of 2014.

JBS reports the performance of its tanning group, JBS Couros, as part of the results of its South American business, JBS Mercosul. It said JBS Mercosul increased revenues to almost $1.9 billion in the third quarter of 2015, a rise of 10.5% compared to the same quarter last year. The group’s earnings on this revenue were $170.3 million, an increase of 15.5%.

These improved financial results have come in spite of a 14% decrease in cattle slaughter levels in the Mercosul market. During the three-month period, JBS Mercosul handled slaughter of just under 2 million head of cattle, compared to more than 2.3 million in the same quarter in 2014. “The performance of JBS Mercosul during the quarter is a reflection of a better balance between the cost of raw material [cattle, principally] and the selling price of our products,” the company said.

Related stories:

JBS Couros opens facilities to students in Colorado do Oeste 10/03/2016
JBS revamps management structure to reflect 'internationalisation' 18/02/2016

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