J&J Snack Foods sees broad-based growth
J&J Snack Foods Corp. has booked an increase in sales and earnings for its first quarter, with all businesses contributing to growth.
J&J Snack Foods Corp. has booked an increase in sales and earnings for its first quarter, with all businesses contributing to growth.
The company said sales rose 5% in the three months to 26 December, climbing to US$222.8m from $212.8m in the year ago period.
Earnings growth came in ahead of the sales gains. Operating earnings rose 11% to $18.4m and net earnings increased 11% to $12.5m. Proportionate to sales, the group improved its operating margin in the period.
Growth was supported across all J&J’s businesses, CEO Gerald Shreiber said. “Led by a particularly strong performance by our ICEE beverage group, all of our businesses contributed to our improved results in sales and net earnings,” he said.
At the end of the previous financial year, J&J said it hoped to boost sales in the coming 12 months through a focus on innovation. The company has already rolled out various new products this fiscal, including Pillsbury frozen dessert – manufactured under license from General Mills – and Grab and Go Oreo Churros – made under licence from Mondelez International.
