PLUNGING PROFITS: Brazilian Meat Giant Reports 80% Profit Decrease


1 Minutes Read

The company's profits have been hit hard - Media Credit:

A Brazilian meat packing giant has reported a net profit loss of almost 80 per cent, according to a report by Markets Insider.

JBS, which is the largest meat processing company in the world, reported a net profit of $97.1 million in the second quarter of 2017 – a 79.8 per cent drop from the same period last year.

The figure fell well short of analysts’ forecast of $153.09 profit.

Corruption scandal

JBS is currently at the center of a scandal, which has seen Brazilian President, Michel Temer hit with a conspiracy charge, after JBS bribed officials in order to keep substandard meat on the market.

This scandal, known as ‘Operation Weak Flesh’ is believed to have hit profits hard.

It has been described by some as Brazil’s biggest political scandal and the resulting arrests and reports had a hugely negative impact on the international image of Brazil’s agribusiness sector as a whole – resulting in JBS’ poor performance.


‘Meat Loving’ Reporter Goes Plant-Based For A Month: Find Out What Happened

Newly Vegan Ne-Yo: ‘I Was A Lover Of Meat But It Literally Makes You Sick’

Hampton Creek ‘In Talks’ With Global Meat Giants To License Its Cultured Meat Technology

Join The Plant Based Newsletter and we will plant a tree! 🌳

We plant a tree for every signup. You’ll receive our weekly news round-up and be the first to hear about, product launches, exclusive offers and more!

© 2023 Plant Based News is a UK-based digital media outlet publishing content about veganism and plant-based living, including news and current events, health, personal transformation stories, features, and recipes. | Plant Based News Ltd, PO Box 71173, London, SE20 9DQ, United Kingdom.