USA: Friendly Ice Cream Corp sees 62% increase in H1 net income
Friendly Ice Cream Corporation, owner and operater of restaurants and manufacturer of frozen desserts, posted net income of US$3m for the H1 ended 30 June 2002, up from US$1.8m year on year. Total revenues for the H1 2002 were US$287.5m, compared to US$277.5m year on year. Comparable restaurant sales increased 7.5% in the H1 2002. Exclusive of non-recurring gains, losses and write-downs, year-to-date income before taxes was US$4.5m in 2002 as compared to a loss before taxes of US$3.2m in 2001, an improvement of US$7.8m.
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