Canadian frozen desserts maker CoolBrands International has reported a sharp rise in quarterly net earnings helped by brand acquisitions.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
CoolBrands posted net earnings of C$7.59m (US$5.86m) for the first quarter to 30 November, compared to $2.72m a year earlier.
Sales for the first quarter increased by 93.7% to $122.1m, reflecting increased sales of prepackaged consumer products, including sales from Americana Foods, Eskimo Pie Frozen Distribution and from the Dreamery and Whole Fruit brands and the Godiva brand licence that were acquired in July 2003.
“Our first quarter results reflect the successful integration of the assets and businesses we acquired in 2003 and the ongoing growth of our base business. Our expanded portfolio of brands, as well as our new distribution and manufacturing operations, all contributed to the dramatic increase in the size and profitability of CoolBrands during the quarter,” said co-CEO David J. Stein.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
