Loss in profits for first nine months of year
Sales dip, despite improvement in chicken segment
Operating income down on previous year
US meat group Tyson Foods said it still has work to do as it posted a loss in profits for the first nine months of the year.
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The company recorded a net loss of US$82m, despite posting a profit of $38m in the same period of 2008.
Sales also dipped, to $19.5bn from $19.6m in the comparable period of the previous year.
Operating income was also down for the period, to $107m from $193m in 2008.
Leland Tollett, interim president and CEO said: “In the midst of a slow economy and a challenging operating environment, we stayed focused and worked as a team to produce results within historical normalised ranges for each segment.
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By GlobalData“I am encouraged by our progress in improving operational efficiencies in the chicken segment, although we still have work to do. Our beef, pork and prepared foods segments continue to perform well.”
Click here for the full third-quarter and nine-month statement from Tyson Foods. Click here for the outlook of interim president and CEO Leland Tollett.
