Taurus banks higher export revenue in the first quarter of 2019

Brazilian manufacturing conglomerate, Taurus, reported a 19.4% higher sales revenue from the USA, their principal market, in the first quarter of 2019 at R$200.4m, compared to the same period last year. The US imported 3.7% more arms at 168,000 units in the same quarter. Exports to other countries rose by 5.3% to R$13.3m in the first three months of 2019 year on year, driven by increased demands from Phillippines law enforcement agencies, according to Valor.

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— Valor Investe (@valorinveste) May 14, 2019

Brazil, Taurus’s second largest market, saw a 13.6% sales increase to 25,000 units between January and March, year-on-year. Sales revenues rose 11.5% to R$35.9m in the domestic market, year-on-year.

Taurus currently produces around 1m units of guns in its Brazilian production facilities and has a total production of 1.4m, with the rest made in the US. The company intends to double production in capacity in the US to 800,000 units this year.

Taurus declared a net profit of R$4m in the first quarter of 2019, up 239% from R$1.2m seen last year. The company attributes its success to the reestablishment of brand credibility.

DatamarNews reported Brazil’s president Jair Bolsonaro signed a decree on May 7 to increase the amount of ammunition a person can buy and reduce restrictions on gun imports. Guns can now be imported more easily; prior to the new rules which will take effect next month, imported guns were not allowed if Brazil manufactured a similar product.

The following Secex graph shows Brazil’s last ten year’s gun export trends:

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