June 18, 2009
No production cuts for Pilgrim's Pride this year amid output troubles
US Pilgrim's Pride Corporation will not cut chicken production further after reducing output 9 percent to 10 percent earlier this year, chief executive Don Jackson said on Tuesday (June 16).
Jackson said that while the company's operations have improved, exiting bankruptcy is still scheduled for late this year.
For the two months ended May 23, the company posted a profit of US$30.6 million, which breaks down to an income of US$16.7 million in May and US$13.9 million in April. Net revenue for the two months was US$1.04 billion.
For the first two months of its fiscal third quarter, the company reported a profit while being under bankruptcy protection.
