FILE PHOTO: A JBS SA poultry plant employee is pictured after the company was hit by an outbreak of coronavirus disease (COVID-19), in Passo Fundo, State of Rio Grande do Sul, Brazil, April 24, 2020. REUTERS / Diego Vara
SAO PAULO (Reuters) – Brazilian meat packer JBS SA reported a steep net loss of $ 6 billion Reais ($ 1.03 billion) in the first quarter as exchange rate fluctuations impacted results, according to a statement on Thursday.
The company said the non-cash effect of currency fluctuations was 8.2 billion reais during the period. Excluding these effects, the company’s net profit would have been 803 million reais. In the first quarter of 2019, JBS recorded a net profit of approximately 1 billion reais.
Reporting by Ana Mano; Editing by Sandra Maler