USA: Campbell’s Q4 net profits rise 5.8%
US food group Campbell Soup reported fiscal Q4 net income up 5.8% to US$55m.
This figure compares favourably with the US$52m reported for the same period a year ago, and would have been higher were it not for increased marketing spend to boost the key condensed soup business, the company said.
Figures for the quarter include costs of manufacturing restructuring in Australia. Excluding the impact of that restructuring, earnings fell to US$59m from US$62m, which the company attributed to significantly increased spending on marketing and infrastructure.
Total net sales rose 5.1% to US$1.22bn from US$1.16bn.
Companies: Campbell Soup Co.
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