US baker Flowers Foods has reported a full-year sales increase of 7.8% to US$2.04bn, achieved through a series of successful price increases.
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Net income for the year was recorded at $94.6m an increase of 16.7% over the $81m reported last year.
George Deese, Flowers Foods’ chairman, CEO and president, said: “Although we faced significantly higher ingredient costs, our team worked to increase efficiencies and control our expenses to help offset those costs.”
Flowers Foods expect sales for fiscal 2008 to be US$2.21-2.25bn with a net income from continuing operations to be $99.5-108.4m.
“Looking ahead, our guidance for 2008 indicates that we expect another year of solid sales and earnings performance,” Deese said.
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