Swift Foods, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 12:38 am
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Swift Foods, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was PHP 12.75 million compared to PHP 4.7 million a year ago. Net loss was PHP 1.18 million compared to PHP 0.426 million a year ago. Basic loss per share from continuing operations was PHP 0.0006 compared to PHP 0.0002 a year ago.
For the nine months, sales was PHP 29.64 million compared to PHP 16.63 million a year ago. Net loss was PHP 3.48 million compared to PHP 2.65 million a year ago. Basic loss per share from continuing operations was PHP 0.0019 compared to PHP 0.0015 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. 