Smithfield Foods profit falls on weak exports
Sept 6 (Reuters) - Smithfield Foods Inc, the U.S. pork producer that has agreed to a $4.7 billion buyout by China's Shuanghui International Holdings, reported a 36 percent fall in quarterly profit, hurt by lower exports to key international markets such as Japan, China and Russia.
The company, whose products include Smithfield bacon and Eckrich sausages, said net income fell to $39.5 million, or 27 cents per share, in the first quarter ended July 28, from $61.7 million, or 40 cents per share, a year earlier.
Sales rose 10 percent to $3.39 billion.
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