Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 12, 2015

Snyder’s-Lance earnings rise in “transformative” year

US snack group Snyder's-Lance ended what it termed a "transformative" year with sales and earnings ahead of the prior 12 months.

US snack group Snyder’s-Lance ended what it termed a “transformative” year with sales and earnings ahead of the prior 12 months.

In a regulatory filing today (12 February), the company said net earnings rose to US$192.59m in the 12 months to 3 January, up from $78.7m in the year-ago period. The bottom line was boosted by lower interest expense and income from discontinued operations. Operating earnings edged up, rising to $104.8m from $102.3m. Sales in the period totalled $1.62bn versus $1.5bn last year.

President and CEO Carl Lee Jr. said: “We are pleased with our performance for… the past year, delivering solid financial growth as we executed a strategic shift in our business and operations.  This past year was transformative for our company and we consider it a new day for Snyder’s-Lance,” he said.

During the year, Snyder’s-Lance sold its private-label business, acquired baked snacks firm Baptista’s Bakery, took a majority stake in Late July Organic Snacks and formed Clearview Foods, a new division dedicated to emerging trends.

Looking to 2015, Synder’s-Lance forecast sales of $1.68-1.72bn and EPS of $1.09-1.19.

Content from our partners
GMP: The food sector’s golden rules (and how they will evolve)
Food fraud in the supply chain (and how to fix it)
VEGA level and pressure instrumentation for the food industry
Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU