Tyson Foods’ Profit Tumbles by 35%

Tyson Foods Inc., the world’s largest meat producer, said its fiscal third-quarter profit fell 35% as declines in the chicken and prepared-foods businesses eroded improved results in beef and pork.

Net income fell to $79 million, or 23 cents a share, from $107 million, or 30 cents, a year earlier, the Springdale, Ark.-based company said. Sales rose 7% to $6.33 billion.

Shares of Tyson rose 3 cents to $11.58 on the New York Stock Exchange.