US spreads-to-coffee group JM Smucker has booked an increase in third-quarter profits, boosted by lower commodity costs, and the impact of its recently-acquired Sara Lee coffee business.
In the three months to the end of January, net profit climbed 32% to US$154.2m. Operating profit was up 29% to $258.3m, the company reported today (15 February).
Net sales increased 6% in the quarter, primarily due to the Sara Lee foodservice business acquisition and a favourable sales mix.
Smucker upped its fiscal year 2013 earnings guidance range of $5.17 to $5.22 per share from a previous expectation of $5.12 to $5.22.
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