BSE restrictions drag down Tyson's performance
US - Higher prices and lower grain costs largely offset down volumes in Tyson Foods’ meat lines, but ongoing BSE restrictions have helped drag down the company's bottom line. The company said that it earned $76 million in the fiscal second quarter, down from $119 million a year ago. Sales however did manage to rise to $6.4 billion from $6.2 billion. Indeed sales in all of its segments - beef, chicken, pork and prepared foods – were higher even as volumes slipped. The company said in its earnings report that it also benefited from a decrease in grain costs.Source: FoodNavigator.com
3 May 2005
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