WH Group's Shares Fall After Reporting First-Quarter Results
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WH Group's shares fell by as much as 8.0% after reporting first-quarter results, despite an 8.8% increase in net profit and a 6.7% rise in revenue. The decline in hog prices, down 23% year-on-year, and a 35% drop in operating profit from the pork segment are impacting the business. Analysts expect losses from hog production to widen in the second quarter due to lower-than-expected prices. The company also noted a decline in revenue from its pork segment amid rising hog production in China and trade restrictions in Europe due to African swine fever.
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