Swift Foods, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 13, 2023 at 11:48 pm EDT
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Swift Foods, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was PHP 15.04 million compared to PHP 8.78 million a year ago. Net loss was PHP 0.159 million compared to PHP 0.666 million a year ago. Basic loss per share from continuing operations was PHP 0.0001 compared to PHP 0.0004 a year ago.
For the six months, sales was PHP 25.93 million compared to PHP 16.89 million a year ago. Net loss was PHP 1.43 million compared to PHP 2.3 million a year ago. Basic loss per share from continuing operations was PHP 0.0008 compared to PHP 0.0013 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. 
