Tasty Baking Co., the US baker, has reported a slight improvement in first-half sales, which climbed 0.8% to US$141.5m, up from $140.4m.
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Gains were weighted towards the second quarter when the company saw a 1.8% increase in net sales, which climbed to $44.6m.
However, profits this year have been held back by increased input costs. The Philadelphia-based baker posted EBITDA of $5.5m, down 22.4% from the first half of last year.
Nevertheless, Tasty Baking president and CEO Charles Pizzi remained upbeat.
“In the second quarter of 2008, increasing commodity costs continued to have a significant impact on our financial results. We were, however, able to mitigate this impact by focusing on cost containment, efficiency improvements, and product pricing actions,” he said.
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By GlobalDataLooking to the full year, Tasty Baking said that it expected to see a net loss of between $1.7m and $3.2m, partially due to costs associated with its decision to move from its present Philadelphia-based facilities in 2010.
