Lassonde Industries said its profits remained flat in the first-half amid what the Canadian food group “strong competitive pressures”.
For the six months ended 3 July, net earnings remained unchanged from the C$13.1m (US$12.7m) reported in fiscal 2009.
Go deeper with GlobalData
Net sales increased 7% to reach C$259m, while operating profits rose 2.3% to C$20.9m.
“The company has noted strong competitive pressures in all of its Canadian markets mostly reflected in higher trade spending,” the firm said. “Lassonde Industries relies on its innovative products to fuel its growth and stand out from its competitors.”
In the second quarter, earnings edged up to C$7.3m, a $0.1m increase on the prior year, while operating income grew from C$11.2m to C$11.3m last year.
See Also:
The company’s net sales however, dropped to C$133.3m, down C$3.8 from the second quarter of 2009. The decrease was mainly due to higher trade spending and unfavourable exchange rates.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
