JBS profit raises 160% in fourth quarter

JBS, the world's largest meat producer, had net income of r $ 66.4 million in the fourth quarter, up 160% compared to same period of the previous year, the company reported on Wednesday.
However, the result, which was below the expectations of analysts, retreated 82% in comparison with the third quarter. The result "was influenced by the expansion of the volume of beef shipped from Brazil and also by the beginning of the operations of birds in the country," said JBS in note.
In addition, the company said, the adjustment in the prices of beef and poultry in the United States and entry into the Canadian market were also factors contributing to the performance of the JBS.
The adjusted net profit was r $ 310,4 million. This item disregards the portion of deferred income tax liabilities which refers to goodwill on the SP — a provision that should only be paid if the company dispose of related investment.
Ebitda, which measures the operating performance of the company, totaled r $ 1.17 billion, up 24.5% compared to the same period in 2011. Analysts pointed at an average $ 282 million net income and Ebitda of R $ 1.15 billion.