US co-operative Land O’Lakes has seen quarterly losses narrow after rising dairy and eggs sales.
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The company today (7 November) posted a net loss of US$2.8m for the three months to the end of September, against a loss of $16.7m last year. Sales jumped from $1.5bn to $2.1bn.
However, president and CEO Chris Policinski warned of tough trading conditions, although he added the company had the “positive momentum” to meet the challenge.
“Higher prices have dampened volumes and we don’t expect the fourth quarter to be without its challenges,” Policinski said.
“However, our results to date, the positive momentum we have generated and our ongoing commitment to cost control, brand strength, targeted marketing and strategic portfolio management put us in a very good position to meet any challenges which may emerge.”
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