US private-label group Ralcorp Holdings posted mixed results for its fiscal third quarter, with sales and net income up but earnings per share down on costs linked to last year’s Post cereals acquisition.
Ralcorp, which makes a range of own-label snacks, sauces and spreads, booked earnings per share of US$1.31 for the three months to 30 June – against $1.73 a year earlier.
However, net earnings climbed 63% to $74.8m as net sales jumped 51% thanks to the acquisitions of Post and Harvest Manor Farms and success in pushing through price increases.
Excluding the effect of those two acquisitions, Ralcorp admitted sales volumes were “mixed”. Cereals volumes were up 4%, while the group’s sauces and spreads division saw volumes rise 1%. Frozen bakery volumes, however, fell 11%. Snacks volumes were down 3%.