Sanderson Farms today (25 August) posted an increase in net profit for the first nine months of the year, which the US poultry group said reflects “improved market conditions”.
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For the nine months ended 31 July, net income totalled US$62.5m compared with $8.8m for the same period of last year.
Net sales for the period were $1.32bn, an improvement on $1.26bn in the prior year.
“Our results for the third quarter of fiscal 2009 reflect much improved market conditions for our company and our industry when compared to last year,” said Joe Sanderson, chairman and CEO of Sanderson Farms.
“The combination of lower costs and improved market conditions resulted in much higher margins for the quarter, and we are pleased with our performance.”
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By GlobalDataClick here for the full release from Sanderson and check back later further comment from the company’s management.
