JBS S.A. net income, sales up in Q1
May 14, 2010
by Meat&Poultry Staff
SÃO PAULO, BRAZIL — JBS SA achieved a first-quarter net income of 99.4 million reais ($55.9 million), compared with a net loss of R322.7 million ($181.4 million) a year earlier, due to an increase in sales and cost-cutting at its U.S. unit, according to Reuters. E.B.I.T.D.A. more than doubled to 862 million reais ($485 million).
Year-on-year, sales increased 35.4% to 12.55 billion reais ($7.05 billion) more than doubling at its Mercosur unit, which sells beef in Brazil, Argentina, Uruguay and Paraguay.