New Jersey snack foods specialist J&J Snack Foods Corp. has posted a drop in fourth-quarter profits, but saw operating profit rise over the full year.
Net earnings for the fourth quarter fell by 9% to U$10.5m, despite sales rising 5% to $162.2m during the three months to 29 September. Operating income also fell by 9% to $16.4m.
Gerald B. Shreiber, J & J’s president and CEO, said: “Although our Icee and Frozen Beverages group did contribute both increased sales and earnings in the quarter, our other business’ segments were impacted by sharply increasing raw material and packaging costs.”
However, operating income over the full year rose by 8% to $48.6m. Full-year net profit at J&J, which also makes Superpretzel, Pretzel Fillers, fruit bars, cakes and cookies, rose by 9% to $32.1m. Sales increased by 11% to $568.9m.
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