US poultry producer Pilgrim’s Pride moved to a profit in 2012 and claimed its “best results in recent years”.
The company made a profit of US$174m in the 12 months to the end of December. This compares to a net loss of $495.7m last year. The firm also made an operating profit of $250.3m versus an operating loss of $373.6m a year ago.
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Last year, Pilgrim’s blamed its losses on “extreme grain volatility and increased input costs”.
CEO Bill Lovette said the results point to a “determined and disciplined” execution of the strategy it implemented over a year and half ago.
“Through our team members’ efforts, we have improved our competitive position significantly over the past two years and we believe we are well positioned for that to continue,” he added.
Net sales in the period amounted to $8.12bn, a 7.8% increase on the comparable period last year.
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