Meat, hide and wet blue producer Tyson Foods has reported revenues of more than $21.7 billion for the six months ending on April 3, up by just 0.3% on the first six months of the previous financial year. However, net income this time around was up by 6.9% to $949 million.

Income from beef was up by 2.8% to just over $8 billion for the six-month period. Tyson said the volume of beef sold over the period was down by 0.3% year on year, but higher margins allowed it to increase revenues.

It said a reduction in live cattle, associated with the impacts of severe winter weather and a challenging labour environment, were the reasons for the slight fall in volume, but it said demand for its beef products remained strong.

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