J&J Snack Foods saw second-quarter sales lifted by the recently-acquired Hill & Valley cookie business but the contribution the brand made to profits during the period was “marginal”.
Sales increased 7% to US$246.5m from $229.7m in the three months to 25 March. Sales growth accelerated in the second quarter, lifting first-half revenues by 4%. Six-month sales totalled $472.1m, the US company revealed in a regulatory filing.
Go deeper with GlobalData
Second-quarter operating income rose 4% to $24.1m in the quarter. Operating income in the first half was also up 4% at $43.4m.
Gerald Shreiber, J&J’s president and CEO, said acquisitions contributed “significantly” to sales but did little for operating profit levels. “Our food service group had a strong quarter led by improved sales and operating efficiencies. The acquisition of Hill & Valley cookie brands contributed significantly to sales for the period but had only a marginal benefit to operating income.”
Second-quarter net earnings increased to almost $16m, compared to $15.6m in the prior-year quarter. For the year-to-date, net earnings increased to $29.5m, compared to $28.6m a year earlier.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
