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.
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...
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 meat market during April 2014. Summary Us...
Synopsis Using this report, marketers will effectively gain an insight into the latest happenings in the global prepared meals market throughout the month. The monthly report provides the reader with...
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Soda draws fire from food in Mexico obesity battle
- Challenges for General Mills with The Good Table
- Why investors are concerned about water risk
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019