WH GROUP (00288) announced its financial results for the nine months ended September 30, 2025. Excluding biological fair value adjustments, the group recorded revenue of $20.48 billion, an 8.54% year-on-year increase. Profit attributable to shareholders reached $1.17 billion, up 8.05% YoY, with basic earnings per share at 9.1 cents.

During the period, processed meat sales volume declined by 2.2%. In China, sales dropped 5.6% due to weak demand, while North America remained stable. Europe saw a 3.5% increase in sales volume, driven by contributions from newly acquired businesses. Total processed meat revenue rose 3.3%. In China, revenue fell 6.6% due to lower sales volume. North America posted a 5.7% revenue increase from higher selling prices, while Europe’s revenue surged 11.8% on volume growth and price hikes.

Operating profit for processed meat declined 5.2%. In China, it fell 4.8% as lower sales and rising costs outweighed benefits from reduced raw material expenses. North America’s operating profit dropped 6.8% due to higher raw material costs and reduced employee tax credits. Europe’s operating profit rose 5.7% on stronger sales.

Pork sales volume increased 8.4%, with China, North America, and Europe posting growth of 13.4%, 5.1%, and 8.2%, respectively. Combined with higher grain sales, pork revenue climbed 12.0%. Operating profit for pork soared 75.6%, primarily due to North America’s hog farming segment turning profitable. However, China’s operating profit fell 14.6% amid intense market competition, while Europe’s dropped 22.0% as declining hog prices reduced profitability across the vertically integrated pork supply chain.