B&G Foods has booked an increase in first-quarter sales and profits, boosted by volume gains and contributions from the recently-acquired New York Style and Old London businesses.
The US firm said net sales rose 8.8% to US$171.2m in the quarter. President and CEO David Wenner attributed the revenue growth to a “healthy mix of base business volume gains and acquisition growth”. Excluding acquisitions, organic sales were up 1.6%.
Higher sales drove an increase in EBITDA, which was up 7.2% to $45.7m in the quarter. Net income, which was boosted by a lower interest charge, rose 17% to $19.6m.
The positive result prompted B&G to raise its full-year EBITDA forecast to a range of $180-184m.