US: Shares in Calavo Growers jump on Q2 bottom line growth
Shares in US produce firm Calavo Growers have jumped as it recorded a "new all time high" in net profits.
Bottom line grew from US$2.2m to $6.7m in the second quarter of the year as the firm benefited from "sharp upward gross margin trends".
Operating income was also up from $3.3m to $9.8m.
Net sales increased 17.2% to $194.8m.
Chairman, president and CEO Lee Cole said he anticipated "completing a very successful fiscal 2014 and posting record earnings per share".
Shares were up 6.78% to $33.39 per share today (3 June) at GMT11.31.
Calavo Growers, Inc. (Calavo) is a provider of fresh food products. It is one of the leading distributers and marketers of avocados across the world. The company offers fresh produce products such as ...
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