Brazilian meat giant JBS has booked a jump in net earnings for the third quarter of the year, lifted by higher sales and improved margins.
The company said net earnings in the three months totalled BRL1.09bn (US$424m) compared to BRL219.8m in the year-ago period. Operating income increased to BRL1.81bn, a 463.6% rise on last year’s operating income of BRL322.3m.
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Profits were lifted by higher margins across four of JBS’s five operating units, resulting in a group-wide EBITDA margin of 11.8%. “The main highlights were the performance of chicken and beef operations in the US, which registered an EBITDA increase of 28.6% and 364.9%, respectively, as well as JBS Foods, which recorded an EBITDA of R$576.0 million, with an EBITDA margin of 17.1%,” the company said.
Sales were also up on the year, rising 27.1% to BRL30.78bn in the three months to 30 September.
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