Swift Foods, Inc. Announces Audited Earnings Results for the Year Ended December 31, 2018
April 29, 2019 at 07:35 pm EDT
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Swift Foods, Inc. announced audited earnings results for the year ended December 31, 2018. For the year, the company reported revenue from contracts with customers of PHP 54,698,000. Net Sales were PHP 54,698,000 compared to PHP 53,796,000 a year ago. Net income was PHP 4,264,000 compared to loss of PHP 11,254,000 a year ago. Basic and diluted earnings per share was PHP 0.0023 compared to loss of PHP 0.0062 a year ago.
Swift Foods, Inc. is engaged in the business of manufacturing, marketing, and distributing processed and canned meat products, poultry products and commercial feeds. The Company's agribusiness division produces and sells poultry products: live and dressed/ processed chicken. The Company's poultry production involves two processes: broiler growing operations and dressing/processing operations. Day-old chicks are bred in rented farms and contract growers' farms for about 32 days. Harvested broiler chickens are sent to the rented dressing plant for slaughtering/processing. The Company's contract growers provide services: housing for the birds that meet the Company's requirements and broiler specifications; labor for day-to-day operations of the farm; and overhead costs such as water, electricity, and fuel. The Company's poultry production facility consists of one broiler farm located in Tanay, Rizal.
SWIFT FOODS, INC. 