JBS says prospects for leather division are positive - leatherbiz: Lea Leatherbiz

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JBS says prospects for leather division are positive

15/05/2018
Packer and leather manufacturing group JBS has said its leather division, JBS Couros, is “showing signs of improvement” and that the prospects for this part of its business are positive.The company made the comment on announcing its results for the first quarter of 2018.

It gave no specific figure for the performance of JBS Couros because it includes statistics for the leather division with those for the JBS Brazil part of its business. In the first quarter of 2018, JBS Brazil achieved revenues of just over $1.6 billion, which represents a decline of 4.7% compared to the same quarter in 2017. The company pointed out that the comparison is skewed because it concluded the sale of its operations in Argentina, Paraguay and Uruguay in August 2017.

Across the whole of its business, JBS’s revenues for the first quarter of 2018 were just under $11 billion, an increase compared to the same quarter in 2017 of 5.8%. Adjusted earnings on this figure were just under $770 million.



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