Pilgrim's Pride confident of better-than-expected 2005

US - Poultry processor Pilgrim's Pride has announced that it will earn more than it thought in the first fiscal quarter of 2005 because of cheaper feed costs. The US group announced that it is raising its previously issued earnings guidance for its first quarter of fiscal 2005 to a range of $0.68 to $0.73 per share versus the $0.50 to $0.60 per share range previously communicated by the company, due primarily to lower feed ingredient costs and stronger results in the company's prepared foods division than previously forecasted for the quarter.

11 January 2005