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.
Seneca Foods, the US food group, fell into the red in the first six months of the financial year after two quarters of losses....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Synopsis Canadean's "Seneca Foods Corporation : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The pro...
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global soups market during April 2014. Summary U...
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- 2015 preview: A better deal for M&A sellers
- Interview part 1: BRF CFO Augusto Ribeiro
- Interview: How BRF plans growth in stagnant Europe
- Kraft to reappraise business, says new CEO Cahill
- General Mills earnings drop one-third
- Pork Farms "disappointed" over Kerry deal ruling
- Bimbo to buy Saputo's bakery arm
- Unilever in European disposal of Mazola oil