US co-op Land O’Lakes has booked a “strong” set of third-quarter numbers, with sales and earnings boosted by the implementation of the company’s growth strategy.
Land O’Lakes said net earnings increased to US$18m in the period, up from a loss of $30m last year. Net sales rose to $3bn, up from $2.7bn in the comparable period of 2011.
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CEO Chris Policinski attributed the “strong” quarter to the company’s strategic initiaties, including a greater focus on developing value-added products in its dairy business and a drive to improve margins.
Policinski said the company is well-positioned for a solid year-end performance in 2012 as it moves through the fourth quarter when results are historically strong from the holiday season.
