An increase in sales has helped quarterly profits to grow at US pretzel manufacturer J&J Snack Foods.
The company booked a 12% increase in underlying net earnings to US$18.7m for the three months to 23 June, the third quarter of its financial year. Underlying earnings excluded a one-time gain J &J booked in last year’s third quarter.
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Operating income was up 10% at $29.9m. The firm also said sales increased 10% in the quarter to $226.3m.
President and CEO Gerald Shreiber said: “All of our business groups contributed to our results for the period. During the quarter, we completed the expansion of our Moscow Mills, Montana and Carrollton, Texas facilities. We continue to make progress expanding our soft pretzel products, including rolls and Bavarian sticks into new venues.”
The third-quarter results contributed to an increase in nine-month sales and profits.
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