USA: Agrilink Foods reports 23% rise in earnings
Agrilink Foods, the US manufacturer and marketer of frozen vegetables, reported operating earnings for fiscal 2002 up 23% to US$100.3m. The company said that results had been positively impacted by actions taken throughout the year to improve margins and lower fixed costs. Ongoing business operating earnings also benefited from the adoption of Statement of Financial Accounting Standard No. 142, which eliminated approximately $8.8m of non-cash amortisation expense, the company said.
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