TreeHouse Foods booked a mixed first-quarter as sales growth boosted operating profit but financing costs weighed on the bottom line.
TreeHouse said today (8 May) that sales in the three months to end-March rose to US$618.9m, up from $540.1m in the comparable period of last year. Operating profit was also up at $50.3m, compared to $44.4m last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, net profit sank to $14.3m from $22.9m as higher costs and the extinguishment of debt dented the result. The higher Canadian dollar also impacted profitability.
Sam Reed, chairman, president and CEO commented: “Our first quarter double-digit sales growth exceeded our expectations and reflects strong private label performance, particularly in the traditional supermarket channel; continued expansion of our single serve beverage platform; as well as the contributions from the Cains Foods and Associated Brands acquisitions.”
