Pilgrim's has May profit, no more production cuts

Tue Jun 16, 2009 10:51pm BST
 
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CHICAGO, June 16 (Reuters) - Pilgrim's Pride Corp (PGPDQ.PK), the bankrupt U.S. chicken producer, will not cut chicken production further after reducing output 9 to 10 percent earlier this year, Chief Executive Don Jackson told Reuters in an interview on Tuesday.

While the company's operations have improved, exiting bankruptcy is still scheduled for late this year, Jackson said.

Separately, a filing with the U.S. bankruptcy court late on Tuesday showed the company had a net operating profit of $16.74 million in May, up from an April profit of $13.92 million. The court filing is not as complete as those that must be filed regularly with the U.S. Securities and Exchange Commission, but does shows improvement in the company's cash flow. (Reporting by Bob Burgdorfer; Editing by Tim Dobbyn)

 

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