US-based soy food producer Tofutti Brands has posted a drop in full-year profits, hurt by “significant” price increases to certain key ingredients and packaging materials.

For the year ended 27 December, the company recorded net income of US$217,000 compared to $465,000 for fiscal 2007.

The company’s pre-tax profit also declined, dropping to $435,000 from $799,000 in the previous year.

Despite this, net sales increased 2% to reach $19.6m, an increase of $459,000.

“While we succeeded to a limited degree in increasing our sales in fiscal 2008, our efforts were negated in great measure by the general economic decline in the US,” said David Mintz, CEO and chairman.

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.

“We believe that we have solved the production issues that we encountered in fiscal 2007 and are now actively attempting to reduce our expenses to improve our gross profit margin.”