Tyson earnings rise 39% in Q1
10/05/2016
This figure represented a 39% increase on the same period in 2015 when earning were $310 million. Revenue was down 8.1% to $9.17 billion, higher than analyst expectations.
US-based Tyson announced after the release of its Q1 report that it will look to build its presence in foreign markets. Officials said this could involve the acquisition of chicken or prepared foods businesses overseas in order to expand beyond its home market.
"96% of the population is outside of the US and food consumption is going to grow around the world. We want to be positioned to grow for the long term, so that means international as well,” said Tyson chief executive Donnie Smith.
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