Profits at Pilgrim’s Pride, the US poultry processor, continued to grow in the third quarter on the back of improved efficiency and higher sales.
Pilgrim’s Pride, in which Brazilian meat group JBS owns a majority stake, reported net income of US$160.9m for the three months to 29 September, up from $42.9m last year. EBITDA more than doubled from $103m to $222.5m. Net sales were up 3.3% at $2.14bn.
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CEO Bill Lovette said: “We are pleased to see continued improvement reflected in our results based on the consistent execution of our strategy. Our engagement with key customers continues to reflect the value they expect from Pilgrim’s and is driving growth and success for our customers. We’ve also seen improvements in our margins as a result of the processes we’ve transformed through our commitment to operational excellence.”
