US snack group Diamond Foods this week reported its third-quarter results and issued an upbeat outlook thanks to a strong domestic performance from Kettle. UK firm The Real Good Food Co. indicated it is considering acquisition opportunities following its disposal of sugar arm Napier Brown. Elsewhere, Grupo Nutresa reported a positive start to the year. Here are this week's results in brief.

Diamond Foods raises guidance

US snack maker Diamond Foods narrowed and lifted its earnings full-year guidance this week after booking higher third-quarter EBITDA.

Adjusted operating profit in the three months to 30 April rose 27% to US$30m. Net earnings increased to $25.1m, versus a $162.8m loss in the year ago period. The company said it expects full year earnings to total $118-123m, slightly up on the prior guidance range of $117-123m.

Sales in the period were down 2.5% to $186.1m but margins improved as the company exited lower margin revenue streams. Gross margin stood at 28.5%, up from 23.6%.

BB&T Capital markets analyst Brett Hundley said the snack maker's performance was lifted by Kettle in the US, but noted the group's brands in the UK were hit by high levels of trade promotion. Hundley wrote: "Kettle US performed ahead of expectations, and its Diamond of California brand held up better in the face of price increases taken previously. Going forward, it expects conditions for its Kettle UK business to improve in Q2' 2015/16, and it is planning for the continuation of heightened promo activity in popcorn."

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Real Good Food Co. on acquisition trail

UK group The Real Good Food Co. indicated it will deploy the proceeds from the sale of its Napier Brown sugar unit to step up investment in its remaining businesses, including possible acquisitions.

Chairman Pieter Totté said: "Now that the disposal of Napier Brown has been completed, we can focus on developing our other businesses, all of which present growth opportunities… Our strong cash position will enable us to pursue capital investment plans to support our growth strategies, and we will also consider complementary acquisitions where appropriate."

The disposal of Napier Brown generated a consideration of GBP34m (US$52m), plus estimated working capital at completion of GBP7m, resulting in a positive cash position at completion of around GBP13.7m, the company revealed.

Real Good Food Co. said for the year to the end of March net sales are expected to be approximately GBP104m and EBITDA in the order of GBP5.3m. The group is due to release full-year numbers next month.

Click here for the filing .

Grupo Nutresa sees "very positive sales"

Colombian chocolate company Grupo Nutresa said that sales increased 12.8% in the first quarter to the end of March, rising to COP1.7trn. Organic growth stood at 10.5%, the company revealed.

International sales, however, where 9% down year-on-year. The company attributed the drop to the Venezuelan exchange rate impact.

The group's operating profit was slightly higher on the year, increasing to COP198.5m from COP195.6m. Net income totalled COP151.1m versus COP159.6 due to the impact of discontinued operations.

Click here for the group's income statement.

Calovo Growers back in the black

Calovo Growers reported a profitable first half, with higher sales and earnings prompting the US group to suggest it is gaining "momentum".

Operating earnings increased to $21.2m, up from a loss of $1.1m in the first six months of last year. Net profit rose to $13.7 versus a loss of $212,000. Sales were also higher, increasing to $416.3m from $363m.

CEO Lee Cole said: "We gained operating and financial momentum in each of our business segments last quarter. All factors aligned, enabling Calavo to register this outstanding, record-setting quarterly performance".

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