Full-year profit reaches US$364m
Net sales drop 2.5%
Estimated EPS of $1.03 to $1.09 for fiscal 2010
US food giant Sara Lee posted an increase in full-year profit today (12 August), despite a 2.5% drop in sales.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
For the fiscal year to 27 June, net income reached US$364m from a net loss of $79m in 2008.
The company also reported an increase in operating income to $713m from $260m in fiscal 2008.
Net sales, however, dropped to $12.9bn from $13.2bn in the prior year.
For fiscal 2010, the company forecast earnings of $1.03 to $1.09 a share, including a 19-cent contingency payment related to a tobacco business it sold in fiscal 1999.
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 GlobalDataClick here for the full press release, and check back later for detailed comment from Sara Lee’s management.
