However net profits dropped 25 percent compared to the year-ago quarter, due to carry costs of derivatives positions, coupled with a currency appreciation for the Brazilian Real.
Global earnings were up by a startling 45.9 percent on 2013, to R2.43 billion (about A$1.14 billion), while gross profit, at A$2 billion, were 44pc higher than last year.
Net revenue across the company’s global operations reached A$13.6 billion, +32pc on the second quarter last year, while net income for the quarter was A$120m, its best result since this period last year.
“This increase is due to an improvement in revenues from all business units, except for the US chicken operations which remained stable, and to the acquisition of Seara which was consolidated into JBS Foods in 4Q13,” JBS’s financial report issued yesterday said.
Apart from JBS’s US chicken division, which recorded net revenue similar to this time last year, all other divisions showed solid growth.
The USA beef division (which incorporates operations in Australia and Canada) showed net revenue 11pc higher, at A$5.73 billion. The improvement was due to an increase in sales volume in both US domestic and export markets, coupled with an increase in prices in the US domestic market due to local cattle shortage and improving demand. Earnings for USA Beef were A$116m, 33pc lower than a year ago, due to an increase in the cost of raw materials (historically high cattle prices in the US due to short supply).
The JBS US pork division also showed positive improvement, more than doubling earnings to A$122m, with net revenue 18.4pc higher.
South American meat operations posted earnings of A$298m, and net revenue of A$2.96 billion, up 16pc on last year. An appreciation in the value of the Brazilian Real during the quarter impacted the South American financial results, the company said.
The company’s new and expanding value-added products division (this does not include Australia’s Food Partners or Andrews Meats businesses, which are reported as part of JBS US division) also showed strong financial growth since the second quarter last year.
JBS Foods recorded earnings of A$207m, and net revenue of A$1.45 billion, up 11pc on last year. Main destinations of JBS Foods exports in 2Q14 were Russia, United Arab Emirates, Germany and South Korea.
Total numbers of cattle processed across the JBS operations in Australia, North America and South America, reached 4.794 million for the quarter, virtually identical to the same period last year. About 68 percent of global revenue generated last quarter was derived from sales within the country of production, with 32pc from exports.