H1 net sales up 2.6%
Group reaffirms 2009 guidance
Operating income up 19.3% to US$45.7m
US food group B&G Foods reaffirmed its full-year guidance on Tuesday (28 July) as it posted an increase in net income for the first two quarters of 2009.
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 26 weeks to 4 July, net income before adjustments reached US$11.9m compared to $7.9m in the comparable period of 2008.
Net sales for the period increased 2.6% to reach $241.5m. The result was negatively impacted by a poor maple syrup crop in Canada in 2008 that led to a global shortage.
Operating income increased 19.3% to $45.7m and EBITDA rose 15.3% to reach $52.8m.
The group reaffirmed its guidance and said it expects EBITDA for fiscal 2009 to be around $99m to $102m. Capital expenditures are expected to be around $11m.
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 first-half statement from B&G Foods. Check back for further coverage and executive comment later.
