JBS Q2 results include no independent auditor’s report
15/08/2017
JBS Mercosul, the business unit that includes the results of leather division JBS Couros, reported a 14.2% fall in revenues, reaching just under $2 billion. Earnings before tax on this figure fell by 42.9% to $81.8 million. The group said its sales of meat in Mercosul, its home region, fell in volume by 21.9%, although prices went up by 7.4% across the board and by 18.3% for fresh beef.
In the build-up to the announcement of these figures, JBS provoked considerable comment when it revealed its second-quarter results would not be accompanied by an independent auditor’s report. It explained that an independent auditor’s report would need to take into account analysis of the plea bargaining agreement JBS has entered into with the authorities in Brazil, releasing to the state information about high-level corruption in return for leniency regarding JBS’s part in it all.
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