Tyson Foods sells poultry plant

(AOF) – Tyson Foods has announced the sale of its poultry plant, based in the US state of Georgia, to House of Raeford Farms. The sale comes as the food group aims to cut costs in a context of weak demand. The terms of the agreement, which must be approved by US regulators, were not disclosed. In early May, the firm indicated that it had generated, for its second quarter, adjusted earnings per share of 62 cents, compared to a deficit of 4 cents per share a year earlier in the same period. The consensus was 9 cents.

Over the period, its revenues totaled $13.07 billion, compared to $13.13 billion a year earlier and forecasts of $13.16 billion.

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