Sanderson earnings jump

Sanderson earnings jump

Sanderson Farms saw its earnings soar in the third quarter, boosted by improved market conditions and higher poultry prices.

In the three months ended 31 July, net income reached US$67.9m, reflecting higher prices for its poultry products. This compared to earnings of $28.7m a year earlier, the company said today (27 August).

Operating profit jumped to $104.4m from $48.9m in the comparable period of the prior year. Sales were up 18.2% to $739m.

Sanderson said the company benefited from "improved" market conditions when compared to last year's third quarter and higher market prices for poultry.

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