J&J Snack Foods saw its full-year earnings climb, boosted by growth in its foodservice division and “strong” sales of its pretzel products.
In the 12 months ended 28 September, net profit reached US$64.4m, a 19% increase on the prior year period. Operating profit was up 15% to $97.4m.
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“Our food service group performed well with strong growth coming from sales of soft pretzel products including new varieties of our soft pretzels to new and existing customers,” said CEO Gerald Shreiber. “Churro sales remained strong but our retail supermarket group had disappointing sales and earnings due in part to cool weather conditions in the northeast that have persisted since early spring.”
Sales in the period increased 4% to $867.7m.
Click here to view the full earnings release.
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