UK-based poultry processor Moy Park, a subsidiary of the Brazilian multinational meat business JBS Foods, has reported a 7.4% increase in second quarter net revenues.
The business made an EBITDA figure of £33.9 million on sales of £392m in the three months to June 30th 2017, compared to £33.5m and £365m in Q2 2016.
The company says that revenues were driven by underlying volume growth combined with favourable exchange rate movements. The small increase in profitability was due to a positive operating performance allied to cost controls.
JBS, which acquired Moy Park from fellow Brazilian meat packer Marfrig in June 2015, is seeking to sell the business, alongside a North American beef business; beef interests in South America and a stake in a Brazilian dairy, in order to raise $6 billion to reduce debt.
The company is caught up in a corruption case in Brazil, and has reached a plea deal with Brazilian prosecutors relating to the bribing of 1,900 state officials over the last ten years.