US dairy-free business Tofutti Brands saw its losses narrow in the first half of the year as sales of non-dairy cheeses grew.
Tofutti booked a net loss of US$88,000 for the 26 weeks to 29 June, down from $309,000 a year earlier.
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The company, which makes a range of dairy-free frozen desserts and cheese products, posted gross profit of $2.9m. A year earlier, gross profit was $1.9m.
Net sales increased 10% to $7.7m. Tofutti said the “primary” reason its revenue was better was its non-dairy cheese sales.
“We are pleased by our double digit sales growth in the quarter, which was spurred by the continued growth in sales of our non-dairy cheese products. The introduction of new products and price increases instituted in the first and second quarters of the year have also helped to improve our sales and gross margins,” chairman and CEO David Mintz said.
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By GlobalData
