US: Healthy push lifts Inventure Foods Q1 profits
- Sales up 39.1% to US$67.5m
- Operating Income up to US$3.1m v US$1.8m last year
- Net income up to US$1.5m vs US$1.8m
Inventure Foods focus on a healthy offering has seen positive results
Inventure Foods has reported a positive first quarter with sales growth lifted by an expansion in "healthy/natural and indulgent product offerings".
The increase in net revenues was due to a 55.1% increase in the healthy/natural product portfolio.
Despite higher selling, general and admin costs, interest and income taxes, the firm also saw net profit grow to US$1.6m compared with US$1.1m for the same period last year.
"We are pleased to report a solid start to fiscal year 2014 with robust net revenues and EBITDA growth," said Terry McDaniel, Chief Executive Officer of Inventure Foods. "We believe that the progress we have made in product innovation when combined with our strategic acquisitions better position us to capitalize on our growth opportunities across various categories. Looking ahead our team remains committed to delivering improved financial results and we expect that fiscal 2014 will be another strong year for Inventure Foods."
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