National Beef reports smaller 2Q loss
April 09, 2007
by FoodBusinessNews.net Staff
KANSAS CITY – National Beef Packing Co. L.L.C., cut its second-quarter loss on higher sales generated by the purchase last year of Brawley Beef L.L.C., Brawley, Calif. In a securities filing, National Beef said it lost $2 million for the 13 weeks ending Feb. 24 compared with a loss of $13.6 million during the same period a year ago.
Sales for the quarter rose 21.6% from $1.08 billion a year ago to $1.3 billion this year. Costs also rose 20%, but the company reported higher profit margins because of more efficient use of its plants and a slight drop in cattle prices.