US pesto and pasta firm Armanino Foods of Distinction has booked an increase in first-half earnings.
Earnings amounted to US$1.6m in the six months to the end of June. This was an 11.1% increase on the prior year period. Pre-tax profit was up 13% to $2.6m.
Sales in the quarter edged up 1% to $13.9m. Armanino said international sales were down in the period but that domestic revenues remain “robust” and “well above” last year’s levels.
“While we do not see international sales picking up in the short run, we are optimistic that the introduction of additional products from our new equipment will add to our international and domestic sales in the fourth quarter,” said CEO Edmond Pera.
“We believe our current strategies to build our overall sales and profits are working and we are cautiously optimistic about the future.”