US egg producer Cal-Maine Foods booked an increase in first-half sales and operating performance, benefiting from its increased focus on speciality egg sales.
For the first six months of fiscal 2014, net sales were US$673.8m compared with net sales of $601.8m in the year-ago period. Net income totalled $34.9m in the six months, compared with net income of $23.7m in the first half of last year.
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Commenting on the result, chairman, president and CEO Dolph Baker said the group was increasing its focus on speciality products.
“Speciality eggs are an important area of focus for Cal-Maine Food’s growth strategy as they continue to gain popularity with consumers who are looking for alternatives and willing to pay for premium products. Specialty egg prices, which are typically higher and less cyclical than regular egg prices, were up 4.1% in the second quarter of fiscal 2014 compared with the same period last year. We will continue to identify ways to enhance our product mix in line with changing customer demand trends.”
Speciality egg sales accounted for 16.4% of sales volumes and 23.7% of revenue in the second quarter, the group revealed.
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