US: Sanderson Farms shares jump on Q2 profit rise
Sanderson Farms has seen a rise in Q2 profits as demand for chicken grows and grain prices remain stable
Lower grain costs and increased demand in poultry products have seen Sanderson Farms post higher second-quarter sales and earnings.
For the period ended 30 April, the US poultry producer reported a net profit of US$51m compared with $24m a year earlier.
Operating income stood at $78.4m, versus $39m for the same period a year earlier.
Sales also increased to $660m compared with $621m.
CEO Joe Sanderson said he was "reasonably optimistic" as the firm headed into the summer months, "typically the peak demand period for chicken".
Shares in Sanderson were up 3.22% at $90.48 per share today (29 May) as of 10:33 ET.
Click here for the full results.
US poultry processor Sanderson Farms has rounded off a year of higher sales and profits with fourth-quarter earnings that beat Wall Street expectations....
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