Canadian natural and organic food group SunOpta has reported “record” first-quarter earnings on the back of growing sales.
The company booked net income of C$5.1m (US$5.3m) for the quarter to 2 April, up from C$4.2m a year earlier.
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SunOpta’s operating income was up 14.6% to C$11m “driven by increases” in the company’s grains and foods division, its international arm and its Opta Minerals unit.
Turnover climbed 20.4% to C$260.9m. Excluding the acquisitions that SunOpta made late last year – of sunflower seed firm Dahlgren and cereal bar maker Edner – revenues were up 9.7%.
President and CEO Steve Bromley said yesterday (11 May): “We are pleased with our first quarter 2011 results which represent record first quarter net earnings for our company. Operating income has improved in spite of rising commodity prices. We remain focused on growing our business in fast growing healthy foods categories while at the same time improving operating margins and returns on assets employed. We believe we are well positioned to continue our profitable growth in the future.”
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