Higher profits at National Beef
15/04/2010
National Beef Packing saw profits by $19 million during the second quarter after reducing costs.
For the quarter ended February 27, the Kansas-based packer posted net earnings of $49.3 million compared $30.5 million during the same period last year. Sales rose 3.3% to $1.3 billion.
"Continued stable demand for beef products and relative stability in cattle prices during the second quarter of fiscal 2010, as compared to the same period of 2009, allowed sales prices to cover the cost of the cattle we processed," the company said.
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