US Michael Foods has booked an increase in first-quarter earnings despite weak consumer demand in the market.
Earnings in the three months to the end of March climbed 52.3% to US$14.2%, the company reported today (13 May). Operating profit increased 19.6% $43.9m.
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Net sales in the quarter amounted to $484.3m, compared to $444.8m last year.
“In the first quarter, despite continued headwinds associated with weaker consumer demand, we were able to find ways to help many of our customers grow their volumes and revenues,” said CEO Jim Dwyer. “We also continued to improve our operations while maintaining safety, quality and service standards.”
