Swift & Company, one of the world's largest processors of fresh beef and pork products, has reported net sales of $9.7 billion for its fiscal year 2005 ended May 29, 2005, up 2% over fiscal year 2004. The company attributed the rise to continued strong net sales increases in its Australian beef and US pork segments which more than offset a net sales decline in its US beef segment. The lingering effects of BSE, including the continued closure of key Asian markets to US beef exports, as well as the inability to import live Canadian cattle, contributed to a sluggish performance by Swift Beef.

Swift Australia FY05 net sales increased 26% to $1.9 billion compared with $1.5 billion in the prior period. Net sales benefited from a 22% increase in average selling prices and nominally higher sales volumes.

Swift Pork FY05 net sales increased 13% to $2.2 billion compared with $2 billion in the prior period. Average selling prices per pound increased 10% while sales volumes declined by 4%.

Swift Beef FY05 net sales decreased 7% to $5.6 billion compared with $6 billion in the prior period.