United Natural Foods has posted net income for the second quarter of US$10.8m, or $0.26 per diluted share, excluding special items, up 14.3% from the second quarter of 2005. Sales rose by 19% to $601.1m.
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The company said that strong growth across all major sales channels of the wholesale segment contributed to the record sales.
“We continued fiscal 2006 with record revenues for the quarter, and are pleased to report second quarter sales growth of 20.4% and comparable distribution sales growth of 18.7% based on comparable shipping days, excluding the two acquisitions made during fiscal 2005,” said CEO Michael Funk. “This quarter’s strong performance demonstrates the effectiveness of our sales and operating strategies and our ability to capitalise on the continued strong consumer demand for natural and organic products.”
The company has raised its forecasts for the financial year to 29 July 2006, with projected earnings, excluding special items, increasing to a range of $1.05-$1.10 per diluted share, from previous a range of $1.03-$1.08 per diluted share. Revenue guidance has increased from a range of $2.25bn-$2.35bn to $2.38bn-$2.42bn.
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