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JBS profits jump

This article was originally published in Foodnews

BRAZIL-based JBS, the world's largest meat processor, posted net profits of BRL147 million (USD91 million) in the first quarter of 2011, up 48% on the same period last year. The increase came on the back of a 20% jump in net revenues, which reached BRL14.67 billion – up from BRL12.2 billion in Q1 2010. The company said all its business units saw double-digit organic growth in local currency terms, reflecting a general increase in average prices, mainly in the export market. Net revenues were 2.5% higher than in the final quarter of 2010, lifted by strong demand in exports and an increase in sales prices.

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