USA: Aurora Foods posts Q1 net loss
US producer and marketer of food brands, Aurora Foods, has reported a first-quarter net loss of US$4.3m, compared to a prior-year loss, before the cumulative effect of accounting changes, of $12.9m. For the first quarter ended 31 March, Aurora reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of $30.5m, compared with EBITDA of $13.2m in the same period last year. The first quarter 2002 EBITDA included a charge of $19.8m, primarily related to trade promotion expenses.
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