Del Monte Foods has reported strong third-quarter figures as a result of solid volume growth from new products, despite accelerating commodity costs.
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Net sales for the three months to 27 January increased 10.4% to US$1.1m compared to $907.2m for the same period last year.
Income from continuing operations was $53.3m, or $0.26 earnings per share, compared to $45.1m, or $0.22 EPS, in the previous year.
“We delivered another quarter of strong top-line performance, driven by solid volume growth, share performance, and new product success combined with effective execution,” said Richard Wolford, chairman and CEO of Del Monte Foods.
“However, our company continues to experience aggressive cost input increases, primarily reflecting rapidly accelerating commodity costs as well as higher fish costs, both of which continue to pressure earnings.”
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By GlobalDataTo combat these pressures, Del Monte Foods has announced pricing across the business – including the company’s fruit sector.
