Canadian food and drink manufacturer Lassonde Industries has booked an increase in full-year profits, boosted by its acquisition of juice firm Clement Pappas and Co.
For the 12 months to the end of December, the company earned C$34.5m (US$34.5m), a 7.8% increase on the prior-year, Lassonde reported yesterday (29 March).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating profits climbed 20.3% to reach C$60.3m. The acquisition had a C$7.8m net favourable impact (including acquisition costs) on the 2011 figure. Excluding the impact, operating profit would have increased 4.8%.
Sales in the period reached C$760.3m, up 41.8% from fiscal 2010. The growth was primarily due to the acquisition, which contributed C$178.6m to the increase.
“We are satisfied with the progress of the Clement Pappas integration. The results of fiscal 2011 are in line with our expectations despite a difficult business environment resulting from increased raw material costs,” said Lassonde Industries chairman and CEO Pierre-Paul Lassonde.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
