Lassonde Industries has said it is “satisfied” with its first-quarter results despite booking a drop in profits.
For the period ended 3 April, net earnings dropped 4.4% to C$5.7m (US$5.6m). Earnings were affected by higher slotting fees resulting from the launch of several products.
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“Given this context, we are satisfied with the net earnings for the first quarter of 2010,” said Pierre-Paul Lassonde, chairman of the board and CEO.
Net sales increased by 4.7% to reach C$125.7m. The increase was due to the “positive” impact of higher deliveries to retailers, partly offset by higher trade spending and unfavourable exchange rates that affected sales denominated in US dollars.
Lassonde’s operating income edged up to C$9.5m from C$9.2m a year earlier.
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