Canadian drink and speciality food group Lassonde Industries posted an increase in third-quarter profits as higher sales helped to offset rising input costs.
The company said on Friday (9 November) that earnings rose to C$10.3m (US$10.3m) in the three month period, up from $8.2m in the same quarter last year.
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Sales were up 21% to $255.1m, from $211m, boosted by the acquisition of US juice maker Clement Pappas.
The company said the increase in profits trailed higher sales due to rising input and raw material costs as well as higher tax charges.
“The third-quarter 2012 results reflect markets that continue to be affected by high raw material costs,” chief executive Pierre-Paul Lassonde said. “The Clement Pappas acquisition has helped us sustain our growth but lower volumes are being experienced by the fruit juice and fruit drink industry in both Canada and the US,” he said.
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