Dutch food group Royal Wessanen has seen quarterly profits more than double thanks to rising sales in North America and Europe and better cost control.
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Wessanen, which makes a range of natural, organic and speciality foods, recorded third-quarter profit of EUR13.1m (US$18.9m), a jump from EUR6.3m a year earlier.
The jump in earnings came as revenue rose by 3.9% to EUR387.9m. Wessanen said it saw sales grow across of all four of its businesses. Margins were further boosted by better cost control and efficiencies from at its distribution operations in North America and Europe.
“Three of our four businesses are showing growth figures that are on or above our year-end target levels of 5-7%,” Wessanen CEO Ad Veenhof said.
Sales growth from Wessanen’s branded business in Europe fell slightly short of that target, rising 4.4%. Veenhof said the business was “clearly on the right track”.
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By GlobalDataIn North America, branded sales jumped 13.1% thanks in part to a fruit juice acquisition in August.
