• Increased full-year EBITDA guidance
  • Profit up, excluding certain items
  • Net sales edge up 2%
B&G Foods increased its full-year expectations

B&G Foods increased its full-year expectations

US food group B&G Foods has increased its guidance for annual EBITDA after booking an increase in profits for the first half of the year.

For the 26 weeks ended 3 July, adjusted net income amounted to US$19.8m compared to $12m in the prior year.

The figure takes into account the exclusion of certain one-off items including interest rate swaps and loss on extinguishment of debt.

Net sales for the period increased 2% to $246.3m as a result of volume and sales price increases of $2.6m and $3.4m, respectively.

EBITDA amounted to $58m, a 9.9% increase on the prior year.

B&G outlined its full-year expectations and said it now expects EBITDA for fiscal 2010 to be around $109m to $112m instead of the previously anticipated $108m to $111m.

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