John B. Sanfilippo & Son saw first-half sales rise on higher volumes, but the US group’s profitability looked mixed as a one-off gain helped to offset higher costs.
The Fisher Nuts maker said sales in the half to 26 December rose to US$401.8m, up from $393.1m last year. The company said gains were driven by higher volumes, which were partially offset by lower selling prices.
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Higher cost of goods sold dented gross profits, which dipped to $66.3m from $67.2m in the comparable year-ago period. However, that was offset by a gain of $1.6m on assets held for sale and cost control, meaning that operating profit rose to $28.7m, compared to $28.2m last year.
The bottom line was also boosted by lower interest expenses. Net profit edged up to almost $16m from $15.8m.
