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Pilgrim's Pride Moves into Profit

by 5m Editor
4 August 2009, at 9:11am

US - Pilgrim's Pride reports a profit in the latest quarter's results.

MarketWatch reports that Pilgrim's Pride, has posted a profit of $53.2 million, or 72 cents a share, for the quarter ended 27 June.

The company lost $52.7 million, or 75 cents a share, in the year-earlier quarter. Sales fell to $1.77 billion from $2.2 billion.

Over the past nine months, Pilgrim's Pride has closed seven processing complexes, two distribution centres and cut production. The company filed for bankruptcy in December 2008.