US meat giant Sanderson Farms has booked an increase in annual sales and earnings after a strong finish to its fiscal year.

For the 12 months to the end of October, net income climbed to US$134.8m from $82.3m in the prior year. In the fourth quarter, net income amounted to $47.8m from $19.8m in 2009.

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Annual operating profit amounted to $209.8m, compared to $136.6m in the year-ago-period, while, for the quarter, operating profit also rose, reaching $74m from $30.9m last year.

Sanderson’s annual sales increased 7.6% to reach $1.92bn. Fourth-quarter sales reached $529.1m from $420.7m in the 2009 period.

“The fourth quarter of fiscal 2010 marked a strong finish to a successful year for Sanderson Farms,” said chairman and CEO Joe Sanderson. “These results reflect the solid execution of our growth strategy and solid performance in our operations.”

Click here to view the full earnings release.

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