USA: Smucker posts strong Q3 net income, raises earnings guidance for fiscal 2003
US jelly manufacturer J.M. Smucker has reported fiscal third-quarter net income of US$28m, compared to $7.9m a year earlier. The company said sales for the third quarter to 31 January rose to $340.8m from $168.4m a year earlier, boosted by the acquisition of the Jif and Crisco brands. Smucker bought the brands, which added $167.6m to its third-quarter sales, from Proctor & Gamble last year.
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