Virginia-based distributor Performance Food Group has reported a 35% increase in net earnings per share for the second quarter to US$0.35.
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However, consolidated net sales from continuing operations fell by 1% to $1.4bn. Net earnings from continuing operations for the second quarter reached $12.2m, unchanged from the same quarter last year.
Net sales from continuing operations for the first six months rose by 1% to $2.9bn, with net earnings increasing by 5% to $17.8m.
“We are pleased with our 35% increase in net earnings per share in the quarter and we continue to be optimistic about the year,” said chairman and CEO Bob Sledd. “We are aggressively implementing our strategy to grow higher margin street business while maintaining our focus on improving productivity by leveraging new technologies and standardisation programmes and implementing our procurement initiatives.”
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