Swift Foods, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 13, 2021 at 12:29 am
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Swift Foods, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was PHP 4.080 million compared to PHP 3.695 million a year ago. Net loss was PHP 1.659 million compared to PHP 1.676 million a year ago. Basic loss per share from continuing operations was PHP 0.001 compared to PHP 0.001 a year ago. For the half year, sales was PHP 11.936 million compared to PHP 16.901 million a year ago. Net loss was PHP 2.227 million compared to PHP 1.025 million a year ago. Basic loss per share from continuing operations was PHP 0.0012 compared to PHP 0.0006 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. 
