TreeHouse Foods saw full-year profits inch up last year as price increases offset commodity cost inflation.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating income rose to US$84.9m during 2007, up from $84.3m a year earlier. Net sales rose 23% to US$1.2m.
Sam Reed, chairman and CEO, said: “We have shown that strategic pricing decisions and an aggressive program of internal cost savings can overcome daunting external influences. We are especially pleased to finish the year at the high end of our expectations despite the unprecedented headwinds we faced this year.”
Net income fell from $44.8m to $41.6m due to costs associated with closed facilities and purchase accounting adjustments related to the company’s acquisition of the soup and infant feeding business earlier last year.
Meanwhile, Bay Valley Foods, a division of TreeHouse Foods, is to close its Portland, Oregon pickle plant in early June due to a drop in volumes.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
