Ralcorp, a producer of private label products for US supermarkets, has seen growth in its food business offset by charges related to its stake in a mountain resort operator.
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The company yesterday (9 May) posted first-half operating income of US$7.2m, down from $33.2m a year earlier.
Ralcorp said it had made a loss of $34.6m on contracts related to Vail Resorts, a mountain resort operator, in which it holds a 19% stake.
The charge took the shine off healthy figures from Ralcorp’s core food business, which posted a 15% rise in revenue during the six months to 31 March.
Ralcorp enjoyed growth across its categories, most notably from its frozen bakery products, dressings, syrups, jellies and sauces. Sales from these products rose leapt 43%.
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By GlobalDataIn all, Ralcorp saw first-half turnover reach just over $1bn.
