SUBSCRIBE

Breaking News on Global Meat Trading and Processing

Headlines > Financial

Financial

Money makes the world go round and the meat industry is no different. Deals are always being brokered and currency fluctuations are a key issue for any global meat trader.

Copa-Cogeca admits EU pork market is ‘fragile’

EU farming body Copa-Cogeca has warned that pork and beef markets in Europe are struggling a week after the European Commission delivered a £500 million aid package to farmers. 

Latvian poultry processor eyes €2.5m investment

Latvian poultry processor Kekava Poultry Farm plans to invest €2.5m to modernise its poultry breeding facility and raise export sales, according to chief executive Anris Pranckevicius.

Profits triple at leading Chinese poultry firm

One of China’s leading poultry firms is reporting a bumper first half for 2016 thanks to domestic and export demand for its cooked poultry products. 

Hungarian poultry sales to rise due to VAT cut

Hungary’s poultry sales could increase by up to 5% next year due to the government’s decision to cut the value-added tax (VAT) on chicken, according to senior industry representatives.

Half-year profits slashed at Ukraine’s MHP

MHP, the largest agro-industrial firm in Ukraine, saw its pre-tax profits drop by nearly 20% in the first half of the year, according to the company’s unaudited half-year financial results.

Wellard expects profits, despite ‘complex’ position

Australia’s largest livestock shipping business, Wellard, expects its full-year profits to be in line with company estimates, despite a double ship breakdown which cost the business AU$7.7 million in repair...

Premium Brands to buy Fletcher’s for $5m

Canadian food manufacturer Premium Brands Holdings Corporation is to acquire a range of assets from high-end bacon-and-sausage producer Fletcher’s Fine Foods, in a deal worth $5m.

News in brief

Moy Park posts ‘solid’ revenue growth

European poultry processor Moy Park has seen a rise in revenue across mainland Europe, according to second-quarter trading figures up to 2 July.

Brazil: Marfrig posts loss after real beef problems

A strong Brazilian real dented income for meat packer Marfrig, which posted a loss of R$132 million ($41.3m) in its second-quarter results up to 30 June.

JBS profits rise but headwind intensifies

Brazilian meat business JBS posted increased net revenue for the second quarter of 2016, but said it faced “significant cost increases” in raw materials, particularly in Brazil.

Cargill sees revenue growth in meat

US meat processor Cargill has seen earnings in meat and animal protein surge “significantly” in the fourth quarter of the year. 

Tican set to axe 80 jobs at Danish bacon plant

Danish pork producer Tican has confirmed up to 80 employees could be axed as the company moves its pork deboning and bacon production operations to Germany and the UK. 

Tyson Foods posts record earnings

Meat supplier Tyson Foods has grown ahead of expectations after posting record third-quarter earnings as a focus on prepared foods and value-added chicken helped operating income surge.

Czech meat business in major investment push

Maso Jičín plans to invest CZK20m (€750,000) to modernise and expand its meat processing plant and add six new retail stores to its growing domestic network.

Kretschmar and Cub team up to support Make-A-Wish

Smithfield brand Kretschmar and grocery chain Cub have donated $15,000 to Minnesota’s Make-A-Wish foundation, an organisation that grants wishes to children with life-threatening illnesses.

Devro ramps up investment for transformation programme

Delays to casings manufacturer Devro’s global transformation programme, which involves production plants in the US and China, is set to cost them an extra £6m.

Estonian meat processor invests in renewable energy

Saaremaa Lihatööstus OÜ has invested €7.5m in machinery, an overhaul of its cold storage facility, and a solar energy plant to power its meat processing site in Kuressaare.

Meat processor BRF posts drop in profits

Brazilian food processor BRF posted a near-quarter drop in pre-tax profits as the soaring price of corn dented pork and poultry operations.

Pilgrim’s Pride looks to diversify following poor second quarter

Pilgrim’s Pride has posted a decline in sales and margin for the second quarter of the year. 

ConAgra cuts the fat with double divestment

US food company ConAgra has sold two of its subsidiaries, JM Swank and Spicetec Flavors & Seasonings, generating nearly $500m from the deals. 

Polish chicken processor plans 'major investment'

Polish chicken processor and feed producer Wipasz is planning to build a new meat processing plant in Miedzyrzec Podlaski, eastern Poland.

Atria’s profits rise despite tough competition

Scandinavian meat processor Atria has seen pre-tax profits rise marginally, according to half-year trading figures posted on 21 July.

HKScan reports drop in profits

Finnish meat processor HKScan has posted a slump in pre-tax profits, according to its interim trading results for the first half of 2016.

MHP: Middle East boosts poultry growth as it expands there

Ukraine’s MHP has reported growth in poultry production, with sales reinforced by a robust export upswing to the Middle East in its preliminary half-year results, posted on 19 July. 

FAO: Global price of meat up

The price of a shopping basket of meat products increased for the third month in a row, according to the Food and Agricultural Organisation’s (FAO) Meat Price Index.

On demand Supplier Webinars

Science behind Dow Food Solutions
Dow Pharma & Food Solutions
All supplier webinars