- -Net profit up to US$38.3m from US$33.9m.
- Sales, EBITDA outlook raised
- EPS guidance lowered due to outstanding shares following public offering.
B&G Foods has reported an increase in sales and net profit for the first half of 2015.
For the period ended 4 July, the US group said net income rose to US$38.3m from $33.9m.
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Operating income increased to $82m from $81.4m and sales increased to $410.7m from $401m a year earlier. Sales in the first half were lifted by the sales growth of Specialty Brands, acquired in April 2014.
The company has increased its EBITDA guidance for the year to a range of $199m to $204m from its previous outlook of $196m to $202m. Net sales outlook was also increased to a range of $875m to $885.0m from the previous outlook of $860m to $880m.
Its outlook on diluted earnings per share guidance for fiscal 2015 was lowered to a range of $1.44 to $1.50 from $1.48 to $1.55, primarily due to an additional 4.2 million shares outstanding following the company’s second quarter 2015 public offering.
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