Swift Foods, Inc. Announces Unaudited Earnings Results for the Quarter Ended March 31, 2019
May 15, 2019 at 02:03 am EDT
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Swift Foods, Inc. announced unaudited earnings results for the quarter ended March 31, 2019. Net Sales were PHP 11,896,000 compared to PHP 11,846,000 a year ago. Net loss was PHP 1,258,000 compared to profit of PHP 850,000 a year ago. Basic and diluted loss per share was PHP 0.0007 compared to profit of PHP 0.0005 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. 