USA: Strong Q2 for American Italian Pasta Co
Kansas City, Missouri-based American Italian Pasta Company (AIPC), the largest and fastest growing producer and marketer of dry pasta in the US, has announced record results for its fiscal Q2 2002, ended 29 March 2002. Q2 revenues increased 26% to US$94.8m, led by strong retail revenue growth of 33%. Gross margin expanded to 35.6%, up from 31.2% a year ago, primarily as a result of increased operating efficiencies and the higher margins associated with the recent brand acquisitions. Marketing and selling expenses increased by 83%, due in large part to the higher marketing support associated with selling branded products. Operating profit increased 28% to US$17.7m from US$13.8m year on year.
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