Acquisitions boosted full-year sales but dented net profit at US soup-to-snack group Campbell Soup Co.
In a regulatory filing released today (29 August), Campbell said adjusted sales increased 11% to $8.58bn, from $7.7bn last year. Acquisitions, such as the purchase of baby food maker Plum Organics and Bolthouse, contributed to top line growth.
Go deeper with GlobalData
However, net earnings sank to $458m, or $1.44 per share, compared with $774m, or $2.41 per share, in the year-ago period. Excluding items impacting comparability, such as acquisition and restructuring charges, adjusted net earnings increased to $836m and adjusted net earnings per share increased 8% to $2.64.
Campbell said adjsuted operating profit, taking into account continued and discontinued operations, increased 6% to $1.3bn from $1.23bn in the prior year.
“Campbell made solid progress in fiscal 2013 as we executed our dual mandate to strengthen our core business and expand into higher-growth spaces,” president and CEO Denise Morrison. “Our full-year sales and adjusted EBIT growth were consistent with our most recent fiscal 2013 guidance, and our EPS growth exceeded that guidance.”
See Also:
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.
Thank you!
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 form
By GlobalData
