• Net profit reaches US$17.8m
  • EBIT at $31.2m
  • Net sales slide 3.6%
Snyders-Lances said it expects EPS to increase between 30% to 35%

Snyder's-Lances said it expects EPS to increase between 30% to 35%

US snacks firm Snyder's-Lance has booked an increase in third-quarter profit and upped its full-year earnings forecast, despite sliding sales.

Earnings in the three months ended 29 September reached US$17.8m from $8.8m last year. EBIT climbed to $31.2m versus $18.4m in 2011.

Sales, however, fell 3.6% to $407m. Snyder's said its decision to discontinue non-branded sales to "certain customers who did not accept price increases" reduced revenue.

For the full year, the company said it expects sales to be "flat to about 2% down" compared to 2011 and EPS to increase between 30% to 35%.