Tyson’s profits rise 7%

US meat giant Tyson reported a 6.9% rise in profits to $1.38bn (€1.02bn) following a 4% rise in sales to $34.4bn (€25.7 bn) and the company is predicting strong growth for 2014. Following on from this week’s results, shares in Tyson has increased by 3.13% to $29.67 and CEO Donnie Smith predicts that revenues will grow by at least 10% in 2014 and beyond.

2 Sisters close pork facility

UK entrepreneur Ranjit Singh’s Boparan Holdings Ltd, which owns the Birmingham based 2 Sister Food Group, has closed its poultry facility in Suffolk with the loss of 318 jobs. This site was believed to be dated and required significant investment to get it fit for purpose. Boparan Holdings has an estimated annual turnover of £3.3bn (€3.8bn).

The 2 Sister Food Group has 35 manufacturing sites in Britain and Ireland, six in Holland and one in Poland and employs 18,000 people.

Muller exits A2 corporate venture

German dairy giant Muller acquired Robert Wiseman Dairies in early 2012.

This acquisition also included a 50% stake in A2 Milk (UK) with the remaining 50% owned by New Zealand dairy firm A2 Corp.

Muller has now decided to sell its 50% stake back to A2 Corp for a nominal amount.

Silver Fern reports losses

New Zealand meat co-op Silver Ferns Farms reported losses of NZ$28.6M (€17.6m) for the 12 months ending 30 September 2013. The collapse in the sheep meat market is blamed for these losses, which follows on from even greater losses the year previous.

In addition, group sales fell from NZ$2.03bn to NZ$2bn, again due to the difficulties within the sheep sector.