Lassonde Industries has booked an increase in full-year income and said it will launch several products in the first two quarters of 2010 in a bid to drive growth.
For 2009, the Canadian juice-to-boullion maker earned C$30.6m (US$30.3m), a 4.6% increase on 2008.
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Earnings benefited from the reversal of a $1m interest expense provision combined with the reversal of a $1.3m provision for income taxes.
Net sales for the period amounted to $524.2m, a 3.7% increase on 2008.
The revenue growth was largely due to a “good performance” by the company’s national brands in the retail segment.
However, the positive impact of higher sales of national brands was partly offset by lower sales of private label products and by a decrease in sales to food services in western Canada.
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By GlobalData“Lassonde Industries is well positioned to benefit from the economic recovery, once it has been confirmed,” said chairman and CEO Pierre-Paul Lassonde. “We therefore plan on maintaining our management approach and our business model for the coming year. Barring any major external shocks, we remain optimistic about our ability to maintain the 2010 net sales growth at a level similar to that experienced in fiscal 2009.”
The firm added that it intends to drive growth by launching several products in the first two quarters of 2010.
“Concentrating these product launches in the first quarters of 2010 is expected to result in higher slotting fees for these periods. However, the company expects that, on a full-year basis, the 2010 slotting fees will be comparable to those of fiscal 2009.”
