万洲国际(00288) - 2024 Q1 - 季度业绩

Sales Performance - Meat product sales decreased by 4.1% to 786,000 tons, while pork sales fell by 7.8% to 941,000 tons compared to the same period last year[1]. - Revenue declined by 8.3% to $6,181 million, down from $6,743 million in the previous year[1]. - Pork revenue decreased by 13.7% due to lower sales volume and average selling prices, but operating losses improved from $170 million to $27 million[6]. Profitability - Operating profit increased by 37.3% to $501 million, compared to $365 million in the same period last year[1]. - Profit attributable to the company's owners rose to $301 million, with basic earnings per share increasing to 2.35 cents from 1.36 cents year-on-year[1]. - The company reported a significant increase in operating profit for meat products in China by 10.1% due to favorable raw material costs[5]. Market Conditions - Average pig prices in China decreased by 5.1% to approximately $2.07 per kg, while in the US, prices slightly dropped by 0.8% to $1.26 per kg[2]. - The company expects continued positive impacts from recent reforms in pig farming operations, despite potential macroeconomic challenges affecting consumer confidence[7]. Strategic Plans - The company plans to adjust product structure, expand sales networks, manage prices, and reduce costs to adapt to changing market conditions[7]. - Total assets increased to $19,871 million from $19,179 million, while equity attributable to owners decreased slightly to $9,781 million[1].