US Michael Foods saw its earnings soar in the first six months of the year boosted by reduced costs and growth in its eggs and potato divisions.
In the six months to the end of June, earnings reached US$23.9m from $7.6m a year earlier. Operating profit amounted to $81.1m versus $58.2m in the year ago period.
“Michael Foods performed well in the second quarter, driven by continued growth in eggs and potatoes, cost favourability across our operations and reduced legal expenses versus year ago,” said Jim Dwyer.
“Our integration of the Primera Foods egg business is going according to our acquisition plan,” he added.
Sales in the period reached $948.6m, a 7.6% increase on the prior year period.
Click here to view the full earnings release.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData