US: Lancaster Colony Q2 sales, earnings accelerate
Lancaster Colony sees Q2 growth
Lancaster Colony has seen sales and earnings accelerate in the second quarter of its financial year, reversing the negative trends seen in the first quarter.
The company net income rose 11% in the three months to the end of December, climbing to US$39.2m from $35.2m last year. Net sales were up more than 3% to $336m in the period, driven by food sales. Speciality food revenues rose 7%, with growth in both retail and foodservice channels.
The group had booked a drop in first-quarter sales and earnings, which were hit by the promotional environment. The improved second-quarter performance brought first-half net sales to $621m, compared to $617m last year. Six-month net income was $64m, up from $61.9m last year.
Lancaster Colony also announced the sale of its candle business to private-equity firm Centre Lane Partners for US$28m.
Chairman and CEO John Gerlach Jr said the disposal was "consistent with our long-term objective to concentrate our future effort and investment in the food sector".
Companies: Lancaster Colony
Synopsis Canadean's "Lancaster Colony Corporation : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global ice cream market during January 2014. Summary Usin...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global pasta & noodles market during January 2014. Summar...
- Challenges for General Mills with The Good Table
- Greek crisis - The impact on shopper behaviour
- What US companies might Nomad Foods buy?
- Why investors are concerned about water risk
- Competition intensifies among UK burger chains
- Mitsubishi buys stake in Olam International
- B&G Foods "front-runner for Green Giant"
- Arla strikes JVs in Nigeria and Senegal
- KitKat to go sustainably sourced cocoa only
- Industry news of week - Green Giant, Just Mayo
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Biscuit Manufacturers (UK) - Industry Report
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis