Seaboard Earnings Slide on Rising Sales08 August 2013
US – Pig, poultry and agrifood business Seaboard Corp has seen net earnings fall over the first six months of the year despite a rise in sales.
Seaboard’s net sales in the six months to the end of June rose from $2.98 billion to £3.27 billion.
However, net earnings fell from £132 million in the 2012 half year to $97 million over the same period in 2013.
In the second quarter of the year, sales rose from $1.51 billion to $1.68 billion, while net earnings fell to £39.5 million compared to $50 million in 2012.
Earnings per share fell over the half year from $109.63 in 2012 to $81.06 and in the second quarter they went down from $41.58 to $33.07.
TheMeatSite News Desk