US: Sales up, profits down at canned food firm Seneca
Seneca reported improving volumes
US canned fruit and veg group Seneca Foods has reported a 5% increase in quarterly sales but saw LIFO charges continue to hit its bottom line.
Seneca booked a 5.5% rise in net sales to US$477.7m for its third quarter, which ended on 28 December. The company pointed to higher selling prices and improved volumes.
However, Seneca's net earnings for the quarter more than halved. Seneca's bottom line stood at $6.8m, down from $14.8m a year earlier. As in the first two quarters of the year, LIFO charges hit Seneca's profits. Seneca booked a $5m charge for the third quarter.
Click here for the full release.
- Interview: Mondelez's outlook for China
- Interview: Mondelez eyes sweet success in China
- General Mills on Q1, innovation, margins
- What next for Bernard Matthews? - comment
- How food companies involve staff in sustainability
- Ireland unveils national plan to tackle obesity
- ConAgra acquires Frontera Foods' "gourmet" brands
- Aryzta FY profits fall
- Nestle close to finalising Garoto deal
- Nestle launches Nesquik Protein Plus for adults
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food and Drinks Closures: Performance and Opportunities