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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.