Swift Foods, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 18, 2021 at 09:21 am IST
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Swift Foods, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was PHP 7.856 million compared to PHP 13.206 million a year ago. Net loss was PHP 567,000 compared to net income of PHP 651,000 a year ago. Basic loss per share from continuing operations was PHP 0.0003 compared to basic earnings per share from continuing operations of PHP 0.0004 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. 
