National Beef helps deliver Marfrig growth - leatherbiz: Leading news Leatherbiz

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National Beef helps deliver Marfrig growth

28/02/2019
Packer and tanning group Marfrig has announced revenues of $11 billion for all areas of its business in 2018. It said on reporting the results that its pre-tax earnings for the year reached more than $900 million, the highest figure in the company’s history.

It said that its North American business, which includes the US’s fourth-largest meat operation, National Beef, and its leather manufacturing division, National Beef Leathers, brought in full-year revenues of more than $7.6 billion, growth year on year of 17.3%. Marfrig completed its acquisition of a majority share in National Beef in June 2018.

“This growth was thanks, mainly, to ongoing high levels of cattle slaughter, strong demand and currency effects,” Marfrig said.

The group’s South American operations brought in revenues of $3.4 billion in 2018, an increase compared to the figure for 2017 of 26%.



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