SAO PAULO May 14 Brazilian meats company JBS SA
posted a net profit of 120 million reais ($54
million) in the first quarter, less than half the
242.2-million-real gain a year earlier, the world's biggest
meats producer said in a filing late on Wednesday.
Despite the drop in first-quarter earnings, JBS posted net
revenues of 26.42 billion reais, up 35 percent from the same
quarter a year ago due to sales growth in all its divisions
except its U.S. poultry business, which was stable.
The company derives 73 percent of its revenue from domestic
sales in each of the country that it operates subsidiaries and
27 percent from exports out of Brazil, the United States,
Australia and other countries.
Earnings before interest, taxes, depreciation and
amortization, an indication of a company's ongoing operational
strength known as EBITDA, was up 99 percent from a year earlier
at 1.75 billion reais.
The EBITDA margin was also up at 6.6 percent from 4.5
percent a year ago.
(Reporting by Reese Ewing; Editing by Kim Coghill)