Natural and organic food group SunOpta booked an increase in full-year sales and earnings despite "commercial and operational pressures" experienced at its consumer products unit.
The Canada-based firm said revenue increased 9% in 2014, rising to a “record” US$1.24bn. The increase was driven by "strong demand" for organic raw materials at its ingredients business, as well as "continued growth" in consumer packaged categories.
Operating income rose to $45.2m from $37.7m in 2013. The company said margins were up, rising to 3.6% from 3.3%, thanks to higher volumes on higher margin organic raw materials. A stronger performance from SunOpta Foods, where margin expanded to 3.8% of sales and operating profit increased to $41.7m from $31m in 2013, was somewhat offset by increased pressure at Opta Minerals. The company is in the process of divesting this unit to focus on foods.
Net earnings rose to $8.4m in the year, compared to a loss of $9m in 2013.
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.
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 formBy GlobalData