US dairy firm Land O’Lakes said it recorded “solid” sales and “strong” earnings in the third quarter.
In the three month period, earnings increased to US$49m, 173% higher than the third quarter of 2012. Sales were up 4% to $3.1bn.
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“The strong third quarter results reflect the on-going implementation of growth strategies that add value and expand markets of our brands,” said Chris Policinski, president and CEO of Land O’Lakes.
Policinski said Land O’Lakes’ dairy foods business had seen “strong” earnings driven by its cheese and butter brands. He also pointed to other parts of the company’s product portfolio.
“The 2013 earnings in dairy foods have grown as a result of new products such as Kozy Shack refrigerated desserts and continuing innovations such as the recently expanded line of Sauté Express Sauté Starter products,” Policinski said.
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