Operating profits for fresh pork, packaged meats and hog production were all up over 2011 numbers, at $35.4 million, $101.3 million and $69.7 million, respectively. The packaged meats sector was a particular success for the company. "We are supporting our packaged meats business by boosting our sales and marketing budget to activate our brands and fuel innovation to bring us closer to our consumers," said C. Larry Pope, president and CEO. "This is promoting growth and strengthening our position in many important product categories, including bacon, dinner sausage, hotdogs and portable lunches."
Looking forward through the fiscal year 2012, Smithfield Foods plans to grow the company's packaged meats business and target 3% sales volume growth.