Lancaster Colony today (29 October) posted a jump in first-quarter earnings as margin improvements and lower expenses more than offset declining sales.

The company said that earnings totalled US$28.4m in the three months ended 30 September, up almost threefold from $11m last year.

The company said its results had benefited from an improved gross margin, which totalled 25% of sales, up from 15% last year.

Profitability was also bolstered by lower corporate expenses and reduced restructuring charges, which fell from $1.6m last year to about $800,000 this year.

However, sales at the speciality food maker dropped 4% to $2.54bn.

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.

John Gerlach Jr., Lancaster Colony CEO, said the company would continue to see the positive impact of improved margins moving into the second quarter.

While consumer demand continues to be challenged by a weak economic environment, particularly in foodservice channels, we are again expecting comparative improvement in the quarter’s operating results,” he concluded.