JBS holds Pilgrim's Pride responsible for poor performance in 2011
JBS has again said its poor results are down to Pilgrim's Pride (PPC), its chicken unit in the United States, which made a loss in the last four quarters. According to a report sent to Brazil’s Securities Commission (CVM), JBS would have registered a net profit of R$ 500 million is the US unit were disregarded from the calculations. Last year, PPC accumulated a net loss of US$ 354.4 million.
"With the end of 2011, the company's major expense period has also been overcome. The period of high investment in plants in the search for efficiency and integration has been completed and after all adjustments, we can reduce our costs by US$ 100 million," said the president of JBS, Wesley Batista.