Thursday, August 12, 2021

JBS posts strong beef profit, including Canada

JBS SA reported a 29.7 per cent increase in profits and record-high revenues of $843 billion US for its second quarter.

JBS USA, which includes the former XL Beef plant in Alberta, reported revenues increased by 18.8 per cent and a profit increase of 10.9 per cent to $6.7 billion.

"The strong demand in the domestic and international markets sustained beef prices at high levels, providing good margins for Beef US and Canada," the company said.

Its head office is in Brazil and it is the world’s largest meat-packing company.