Tyson reports rise in earnings

30/01/2002

Tyson, the world's largest meat company, reported a massive increase in earnings for the first quarter to $126.9 million from $27 million the year before. Tyson grew spectacularly in size following the purchase of IBP, the largest red meat packer in the US, in June last year. Tyson had tried to back out of the deal, but was forced by a judge to carry through the purchase. The company achieved sales of sales of $5.86 billion for the first quarter and now calls itself the world’s "largest protein provider".