August 11, 2016 / 2:22 PM / 2 years ago

BRIEF-Corn costs eclipse 8 pct rise in JBS prices in Q2 in Brazil

SAO PAULO, Aug 11 (Reuters) -

* In a Thursday call with analysts, JBS SA, the world’s largest beef exporter, said it raised prices by 8 pct in the second quarter in Brazil, which still did not cover an increase in its grain costs, corn principally

* After posting a net gain of $529 mln in the second quarter late on Wednesday, the company said it expects margins to recover when it is able to pass on to consumers the recent rise in production costs

* JBS said Brexit could be positive for the competitiveness of products marketed by its Moy Park asset in the United Kingdom

* Management expects to conclude the reorganization of the company in late November or December

* The company plans to reduce its debt metrics to around 3 times EBITDA, generate cash in the second half of 2016 and re-evaluate some investments, the company’s CEO said

* Further adjustments in prices could affect sales volumes in Brazil in the coming quarters, the CEO said Related story (Reporting by Alberto Alerigi Jr; Writing by Reese Ewing)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below