Investure Foods has booked an increase in full-year profits, boosted by sales gains and improved margins.
The US speciality food group said that full-year adjusted EBITDA totalled US$11.9m in 2010, up 12.6% year-on-year. Gross profit climbed to $28.8m, with gross margin improving 180bps at 21.5% of sales.
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Sales gained 10.7%, rising to $134m – including a 61.6% increase in revenue from its Boulder Canyon brand.
“It was a great team effort to post another record year of performance and we have a number of solid growth initiatives in place that should further strengthen our position for the future,” said CEO Terry McDaniel.
“Inventure has successfully concluded its fourth consecutive year of revenue and earnings growth. During the past four years we experienced a 91.9% increase in net revenue and a 308.7% increase in net income….We remain focused on making further investments in brand support, people, plants, and new product development, which will help drive growth and shareholder value into the future.”
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