US canned fruit and veg group Seneca Foods has reported a 5% increase in quarterly sales but saw LIFO charges continue to hit its bottom line.

Seneca booked a 5.5% rise in net sales to US$477.7m for its third quarter, which ended on 28 December. The company pointed to higher selling prices and improved volumes.

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However, Seneca’s net earnings for the quarter more than halved. Seneca’s bottom line stood at $6.8m, down from $14.8m a year earlier. As in the first two quarters of the year, LIFO charges hit Seneca’s profits. Seneca booked a $5m charge for the third quarter.

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