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.
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.”
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