November 16, 2016 / 12:32 PM / 2 years ago

Brazil's JBS says higher beef production to boost margins in 2017

SAO PAULO, Nov 16 (Reuters) - Brazil’s JBS SA, the world’s largest meat processor, said on Wednesday that higher production of beef in Brazil and the United States and lower feedstock prices should drive an improvement in its profit margins and debt levels next year.

JBS Executive President Wesley Batista told a conference call with investors that the company’s debt levels had peaked and should start to gradually fall from this quarter, helped by a rise in free cash flow. Batista said JBS aims to end 2017 with a net debt to EBITDA ratio of around 3, versus 4.32 at the end of September. (Reporting by Alberto Alerigi; Editing by Daniel Flynn)

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