US frozen food maker Overhill Farms has booked a 20.5% jump in quarterly profits thanks to efficiency gains and favourable commodity pricing.
Overhill, which supplies a range of retail and foodservice customers, said yesterday (4 February) that first-quarter net income reached US$3.1m for the three months to 27 December.
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Sales growth was weaker, with revenues inching up 1.7% to $56.2m after being boosted by a doubling of Overhill’s foodservice sales.
The company’s retail sales slid 17.3% to $35.1m in the wake of Heinz’s decision to make more frozen food in-house.
Chairman, president and CEO James Rudis said: “We are pleased to be able to report these strong results despite the continuing challenges of a difficult economic environment for our customers and our company.”
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