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Solid second-quarter growth for Moy Park
Published:  16 August, 2017

JBS Europe – Moy Park saw a “solid” rise in revenue in the second quarter of the year thanks to fluctuating currencies. 

In the 13 weeks to 30 June, its net revenue was £391.6 million (m) for the second quarter of the year, up 7.4% compared to the second quarter of 2016. This was driven by volume growth of 2% as well as “favourable exchange rate movements”.

The company’s EBITDA for the second quarter was £33.9m, up 1.2% year-on-year, which JBS attributed to a “strong operational performance, as well as the company’s focus on cost controls and synergy realisations”.

JBS Europe – Moy Park held its own in comparison to other divisions. The US divisions all saw growth in the second quarter with only JBS USA Pork and Pilgrim’s Pride outperforming it in terms of percentage growth. Its Brazilian businesses suffered net revenue drops over the 13 weeks, causing JBS overall to experience a revenue drop during this period.

JBS global CEO Wesley Batista said: “Moy Park in Europe continued to deliver solid and consistent results.”