Brazil - Jeremiah O'Callaghan of JBS S.A

 

JBS SA, the world's biggest beef producer, expects Brazilian meat exports to increase although prices may drop, the company's head of investor relations, Jeremiah O'Callaghan, said in a conference call on Wednesday.

 

JBS posted an $83.64 million second-quarter profit on Tuesday, slightly beating analysts' estimates.

 

The company increased revenue by boosting beef processing capacity and starting poultry production in Brazil after it leased Frangosul plants from France's Doux.

 

JBS said on Wednesday that the Frangosul plants were operating at 90 percent capacity.

 

Tapping into poultry production was reminiscent of the aggressive takeover strategy the one-time family butcher pursued to rise to the top of the meat industry. JBS had slowed expansion efforts in the past few years.

 

 

 

 

Source: reuters

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