US snack manufacturer Snyder’s-Lance has booked an increase in first-quarter earnings and reiterated its full-year outlook.
In the three months ended 30 March, net profit amounted to US$19.8m, a 39.4% increase on the prior year period. Income before interest and taxes amounted to $35.4m, up from $26.1m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales in the period reached $419m, an increase of 6.5% over last year.
CEO Carl E. Lee said the company will increase its marketing and advertising investment from the second quarter in a bid to drive sales.
“Consistent with our strategic plan, advertising efforts will focus on our core brands while our marketing efforts will support our broader portfolio. The majority of this activity will occur during the second and third quarters of 2013, leading to additional revenue growth in the back half of the year,” he said.
The company maintained its full-year estimates of net sales up 10% to 12% and earnings per diluted share to increase between 22% and 32%.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
