Speciality food make Inventure Group today (22 April) unveiled strong earnings growth, which was boosted by rising sales and lower costs.
The company said that EBITDA rose 31.9% to US$3.2m in the first quarter ended 27 March. EPS was up 40.5% to $0.7 a share.
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Sales gains totalled 5.6% during the period, rising to $31.4m. Revenues were driven by an “exceptionally strong” performance from the group’s Rader Farms business, which posted gains of 12.5%. Revenue from the group’s snack business, Inventure’s largest unit, rose 1.8%.
“As anticipated, 2010 is off to an excellent start for the company,” said TCEO erry McDaniel.
“Our diversification into the healthy/natural segment continues to pay dividends as we achieved impressive results in both our Boulder Canyon and Rader Farms divisions… Also, in line with our strategic growth plans, our premium private label products have been an important revenue contributor and continue to experience strong demand.”
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