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Email Content: Poultry Industry News, Comments and more by Simon M. Shane

WH Group Reports Lower Operating Profit for First Half 2023



In an August 15th release the WH Group reported on financial performance for the first half of 2023 ending June 30th. The Group operates in China, the E.U and in North America (Smithfield Foods in the U.S.) slaughtering 25.4 million head during the six-month period.


For the Group, revenue attained $13,116 million (down 2.1 percent from 1st Half 2022); Operating profit was $639 million (down 47.2 percent) and net earnings fell by 45.4 percent to $383 million.


The Group operates Packed Meat and Pork Segments.


For the U.S. (presumably Smithfield), the Packaged Meat Segment contributed $578million out of the total Segment operating profit of $1,068. The Pork Segment in the U.S. posted an operating loss of $495 million with total Segment loss of $409 million including positive operating profits from China ($42 million) and the E.U. ($44 million)

Copyright © 2023 Simon M. Shane