November 9, 2007

JBS reports loss US$45 million in third quarter

Brazilian giant meatpacker, JBS Sao Paulo, said it swung to a US$45.26-million loss for the quarter which ended on September 23, 2007.

This was an ill comparison to the US$23.04 million profit of JBS in the same month last year. The loss was mainly blamed on the weakened US dollar.

The sales however, quadrupled compared to last year, reaching US$3.01 billion in the third quarter, augmented by US$2.59 billion sales at JBS US.

US beef division sold up to US$1.58 billion. Australian beef division, which is a part of JBS US, reported revenues of US$515.6 million.