The year ended well, outlooks are positive, but the restructuring process isn’t over. As expected, Tyson Foods (US-based meat titan), ends 2017’s fiscal year in the green, “mostly thanks to the performance of bovine meat, which were much higher than expected” says a note by the company. Earnings per share were higher than the previous at 5.2 – 5.3 USD per share, compared to the 4.95 – 5.05 USD from the previous period. These results mean that Tyson food will save a net 200 million USD in 2018, which will become 400 million USD in 2019, and 600 million USD in 2020. The cost-cutting strategy does come with ulterior sacrifices for the group, which announces redundancy plans for 450 employees in 3 different US locations. The first quarter of the current fiscal year also brings good news to Cargill: total turnover slightly growing to 27.3 billion USD (was 27.1 in the same period of the previous year). Moreover, the even better results were those regarding net earnings: 973 million USD, which account for a 14% increase on a yearly base.
Raw Material, Tyson Foods fixes its balance (but continues to make cuts), while Cargill grows
