3 reasons Keystone Foods increased its revenue in Q4
Marfrig subsidiary sees its net revenue increase 12.1 percent
Keystone Foods saw its net revenue increase by 12.1 percent to $712 million during the fourth quarter of fiscal year 2016.
In contrast, Keystone Foods’ net revenue was measured at $632 million during the fourth quarter of fiscal year 2015.
The U.S.-based poultry company’s parent company, Marfrig Global Foods, reported its financial results on February 23. Marfrig is headquartered in Brazil.
According to a press release from Marfrig, Keystone Foods revenues and sales received a boost because of three main factors:
- Sales were influenced by the continued two-digit volume growth in key accounts in the United States and a better mix of no antibiotics ever (NAE) products
- Double-digit growth in the Asia Pacific/Middle East/Africa (APMEA) region, and high sales in Australia and Malaysia
- Improved leg quarter prices as more markets began to open
On a year-over-year basis, Keystone Foods’ volume increased by 17 percent for the fourth quarter., which ended on December 31.
According to the WATTAgNet Top Poultry Companies Database, Keystone Foods, headquartered in Huntsville, Alabama, produced 23.6 million pounds of ready to cook chicken on a weekly basis in 2016, an increase of 2.8 million pounds when compared to 2015. The company’s brand is Key Farms.