Swift Foods, Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 13, 2018 at 02:57 am EST
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Swift Foods, Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, Net Sales were PHP 12,944,000 against PHP 12,689,000 a year ago. Income before income tax was PHP 1,555,000 against PHP 2,013,000 a year ago. Net income was PHP 1,555,000 against PHP 2,013,000 a year ago. Basic earnings per share was PHP 0.001.
For the nine months, Net Sales were PHP 38,745,000 against PHP 36,554,000 a year ago. Income before income tax was PHP 3,838,000 against PHP 4,286,000 a year ago. Net income was PHP 3,838,000 against PHP 4,286,000 a year ago. Basic earnings per share was PHP 0.002 against PHP 0.002 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. 