Armanino Foods of Distinction, the US pasta-to-pesto group, has booked “record” sales and profits for the first nine months of the year as investment in promotions drives the company’s growth.
The company posted net income of US$3m for the period to the end of September, up from $2.5m a year ago. Net sales grew 11.1% to $23.7m. Armanino president and CEO Edmond Pera said the company had seen “very strong” sales gains during the third quarter.
“Our investment in promotional expenditures is paying off, and we plan to continue this model for the near term with a goal of obtaining additional market share in several domestic market territories,” he added.