J&J Snack Foods has booked a jump in first-half earnings, driven by higher sales, lower costs and an increase in investment income.
The company said yesterday (30 April) that earnings for the six months ended 30 March rose to US$22.9m, up from $15.9m last year. The bottom line was boosted by earnings from investments, which more than doubled to $1.67m in the period.
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Operating earnings were up 38% to $34.2m, from $24.7m in the year ago period. The company saw the benefit of improved margins. J&J also revealed that its marketing spend was also slightly down year-on-year.
Revenues, driven by a particularly strong performance from pretzel and churro sales, increased 8% to $392.8m.
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