US: Production switch hits Tofutti
Tofutti, a US-based soy food producer, has seen first-half profits slip due to a fall in sales as the company switched the production of certain novelty products.
The company booked net income of US$353,000 for the six months to 30 June, down from US$366,000 a year earlier.
Sales slipped by 5% to $9.6m as Tofutti closed its former frozen novelty manufacturing facility in May. The company is in the process of switching production to another facility.
Chairman and CEO David Mintz said: "While our revenue shortfall in the second quarter was disappointing, it was beyond our control. We are confident that we will be able to deliver the postponed shipments and that our third quarter results will benefit from these delayed sales."
Tofutti sells soy-based, dairy-free frozen desserts, soy-based dairy free cheese products and other soy-based, dairy-free food products in the US and in 25 overseas markets.
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