Red meat business is expanding: in fact, in the last quarter sales increased by 3,4% and went up by 3,1% throughout the financial year. Such brilliant performance offset an overall slowdown, in the last quarter, and drove Tyson Food’s statements, which are considered “sound”. For the records, in the last quarter the business trend of the US multinational corporation turned out to be bad and good at the same time: in fact, sales decreased (roughly -2%, while overall revenues amounted to 9,9 billion dollars), though net profits reached 537 million dollars, therefore increasing compared to the last year same period (394 million dollars). On the one hand, operating margins, coming from sales of chicken meat, have been declining by 34% on annual basis; on the other hand, volumes of sales of bovine meat have been enjoying a boost thanks to “higher supply of livestock, higher demand for bovine meat-based products and increased exports”, announced the company. “Throughout 2018 financial year, Tyson Food’s profits proved to be sound: such performance has been relying on the effectiveness of our wide portfolio alongside our diversified business model”, pointed out Noel White, president and chief executive officer of the US giant. He also remarked that “our strategy, which is proving to be successful, enabled us to make good profits this year; as well, it will allow a long-term and consistent business expansion”. Overall, Tyson Food’s yearly financial statements reached 40 billion dollars (+4,7%); as for bovine meat sales, revenues reached, over 12 months, 15,4 billion dollars.
Despite a slowdown in the last quarter, Tyson Food keeps running, as read meat supply and demand are growing
