JBS Sees Profits Rise16 May 2013
BRAZIL - Net Revenue for Brazilian meat processing giant JBS rose by 22 per cent in the first quarter of the current financial year by R$3.5 billion to R$19.5 billion.
Net profit for the processor rose by 26.3 per cent compared to the same quarter last year to R$879.4 million. The EBITDA margin was 4.5 per cent.
JBS Mercosul earned R $ 4.97 billion in net revenue, 29.8 per cent higher than in the first quarter of 2012.
EBITDA grew by 10.4 per cent over the same period to R $ 561.7 million.
The chicken processing sector in the US – Pilgrims’ Pride Corporation - saw net revenue od $ 2.0 billion (US), 7.8 per cent up on the first quarter of 2012.
EBITDA was $117.7 million in the first quarter of 2013, an increase of 13.2 per cent compared to the first quarter last year.
Adjusted net income for the period was R $ 374.5 million, excluding the portion of deferred income taxes, which refers to the goodwill generated in the parent company.
The reported net income for the period was R$ 227.9 million - R $ 0.08 per share.
The operating cash flow for the quarter was R $ 58.6 million.
The Company ended the quarter with R $ 5.5 billion in cash, equivalent to 93.5 per cent of short-term debt.
TheCattleSite News Desk