GFM Network News


JBS beats estimates, refinances bank debt

Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meatpacking company, beat analysts’ estimates for the first quarter and closed a deal to refinance the bulk of its bank debt on Monday. JBS’ net income for the first quarter, 506 million reais (C$179.45 million), was 48 per cent above analysts’ estimates, with higher […] Read more

K+S expects earnings gain from Saskatchewan mine

Reading Time: < 1 minute Frankfurt | Reuters — German potash miner K+S vowed to increase earnings significantly this year, as it ramps up production at its new Bethune, Sask. mine and after temporary restrictions on waste water at its main domestic mine were lifted. Revenues would be tangibly higher and earnings before interest, taxes, depreciation and amortization (EBITDA) would […] Read more


Bunge board backs management after earnings miss, CEO says

Reading Time: 3 minutes Chicago | Reuters — Agricultural merchant Bunge reported a worse-than-expected loss for the fourth quarter on Wednesday, the latest in a string of poor results that has left the company’s management fending off takeover bids from rivals. Several years of abundant grains supply on global markets have made it tough for Bunge and its rivals […] Read more

Saputo woos Australia farmers in Murray Goulburn rebuild

Reading Time: 2 minutes Winnipeg | Reuters — Saputo, one of Canada’s largest dairy producers, aims to return Australia’s Murray Goulburn Co-operative to profit by aggressively pursuing more of the country’s milk supply, its CEO said on Thursday. The Montreal-based company agreed last week to buy the co-operative for C$1.3 billion including debt, and has already planned 15 meetings […] Read more


PotashCorp notches higher profit as sales climb

Reading Time: 2 minutes Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more

Greek farmers clash with police in Athens during reforms protest

Reading Time: < 1 minute Athens | Reuters — Greek farmers clashed with police in central Athens on Wednesday when a protest against tax and pension reforms mandated by the country’s multi-billion-euro bailout turned violent. About 1,300 farmers who had arrived in Athens from the island of Crete overnight headed to the agriculture ministry, which was sealed off by police […] Read more


Maple Leaf Foods allows McCain to boost stake

Reading Time: 2 minutes Reuters — Canadian meat processor Maple Leaf Foods reported a smaller-than-expected profit on Wednesday and also said it would allow its biggest shareholder to take a bigger stake in the company. The company said CEO Michael McCain and an affiliated company, McCain Capital Inc., could now bump up their stake to as much as 45 […] Read more

Maple Leaf profit jumps by over 70 per cent

Reading Time: < 1 minute Reuters — Meat processor Maple Leaf Foods on Wednesday reported a 70.4 per cent jump in quarterly profit as lower costs and higher prices boosted earnings at its prepared meats business. Maple Leaf said adjusted operating earnings in its meat products unit, the company’s primary source of income, more than doubled to $65.93 million in […] Read more


CN’s 2015 grain handle down, grain revenue up

Reading Time: 2 minutes Canadian National Railway’s (CN) fourth-quarter and full-year ledgers show lower traffic, but increased revenue, from its grain and fertilizer business in 2015, en route to record full-year earnings. Montreal-based CN on Tuesday reported overall net income of $3.538 billion on $12.611 billion in total revenues for 2015, up from $3.167 billion on $12.134 billion for […] Read more