US private-label manufacturer Ralcorp Holdings has booked a drop in first-half earnings, despite recording an increase in net sales.
For the six months ended 31 March, net earnings amounted to US$113.9m compared to $135.7m in the prior year.
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Net sales, however, edged up to $1.96bn from $1.91bn in last year’s first half.
Adjusted EBITDA, meanwhile, increased to $157.2m from $139.3m in the prior year.
In the second quarter, Ralcorp earned $46.7m, a drop on the $70.2m earned last year.
Net sales, however, increased 2% to $965m, primarily as a result of $42.3m of sales from recent acquisition Harvest Manor, which was partially offset by declines in most other businesses.
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By GlobalDataAdjusted EBITDA increased to $157.2m for the quarter compared to $139.3m last year as a result of lower ingredient costs as well as lower transition and integration costs.
