US meat group Tyson Foods has booked an increase in profits and sales for the first nine months of its financial year.
In a regulatory filing released today (5 August), Tyson said net earnings rose to US$517m in the period to 29 June, up from $398m in the comparable period of last year. The bottom line benefited from lower losses from discontinued operations compared to last year.
Operating profit increased to $959m, up from $932m in the first nine months of 2012. The company said its operating result was lifted by a “record” result from the group’s chicken business and a rebound in profitability at Tyson’s beef unit.
Sales were also up, climbing 2.9% to $25.48bn from $24.74bn last year.
“We are delivering robust results in the second half of our fiscal year,” said president and CEO Donnie Smith. “We see a tremendous amount of opportunity in our business.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData