US meat company Tyson Foods Inc has reported lower income, despite higher sales, for the quarter and half year ended 2 April.

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Second quarter 2005 sales were $6.4bn compared to $6.2bn for the same period last year. Net income was $76m compared to $119mn for the same period last year.


 


Sales for the first six months of fiscal 2005 were $12.8bn compared to $12.7bn for the same period last year. Net income was $124m compared to $176m for the same period last year.

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Pretax earnings for the first six months of fiscal 2004 included $39 million of costs related to poultry and prepared foods plant closings, and $61 million of costs of BSE-related charges.


 


“Sales increased across all four of our primary operating segments during the second quarter,” said chairman and CEO John Tyson. The four are chicken, beef, pork and prepared foods. “The chicken segment in particular delivered strong performance as a result of increased prices and lower grain costs,” he said. “In addition, we continued to improve our sales mix of value added chicken, beef and pork products. Looking forward, we expect strong chicken demand and improving domestic cattle supplies to result in significant improvements in our results in the second half of the fiscal year, compared to the first two quarters.”