August 1, 2005

US poultry giant Tyson Foods sees fall in Q3 profits

US poultry giant, Tyson Foods, reported a fall in profits at US$131 million, or US$0.36/share, for the third quarter ending July 2 this year, compared with US$161 million, or US$0.45/share in 2004.

Tyson's Q3 sales were US$6.7 billion, up from US$6.6 billion for the same period the previous year.

The company reported that while its chicken, beef and prepared food operations performed well, compared with the first half of this year, its pork operations were disappointing.

For the full fiscal year, Tyson expected profits of US$0.95/share to US$1.05/share.