Del Monte Foods saw earnings and sales climb in fiscal 2012/13, as sales and operating income from pet and consumer foods increased.
Earnings in the 12 months ended 28 April amounted to US$92.2m, compared to $32.6m last year.
Operating income was up 3.9% to $384.5m, boosted by pricing actions net of trade spend. Higher marketing and operating costs largely offset the increase, but productivity savings provided a “significant benefit” to operating income, the company said.
Sales were also up 3.9% to $3.82bn, driven by new product volume growth, primarily in pet products. The increase was partially offset by unit volume declines in existing products in both of its divisions.
Revenue and operating income was up on both sides of Del Monte’s business, although growth was faster from pet food.
Recent reports have suggested that Del Monte Foods is preparing to sell off its canned food business. For just-food’s look at what companies could be in the running for the unit, click here.