Buoyant pasta and organic sales have driven a 10% rise in quarterly revenue at US-based Monterey Gourmet Foods, the company said today (8 May).
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Monterey, based in California, posted first-quarter sales of US$24.7m, up from $22.5m in the corresponding period a year earlier. Refrigerated pasta sales rose 17%, while Monterey saw organic sales rise 8%
The rise in turnover helped push up profits, which almost quadrupled to $298,000, Monterey said.
President and CEO Eric Eddings said the company had embarked on a review of its cost base and had cut its product range by 25%.
Eddings said: “Execution of this project is critical as we look to reduce the number of short inefficient production runs, which have historically challenged our margin performance. We are optimistic that we will see continued profit improvement in future quarters.”
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