The acquisition of Eagle Family Food has driven half-year profits at J. M. Smucker, the US group behind brands including Robin Hood flour and Crisco olive oil.
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The company posted a 22% jump in net income to US$90.9m for the six months to the end of October. Revenue climbed 12%, reaching $1.3bn.
Robust second-quarter results – in the face of rising commodity costs – drove the half-year numbers. Second-quarter net income rose 10%, while sales increased by 17%.
“This quarter, we achieved the highest quarterly sales and earnings results in our history, despite an extremely challenging cost environment,” said Tim Smucker, chairman and co-CEO.
“As we look ahead, commodity cost pressures remain. We anticipate further price increases as we navigate the short-term volatility.”
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