US snack maker Inventure Foods has posted a leap in second-quarter profits on the back of higher sales.
The company yesterday (27 July) booked a 32.6% increase in net income to US$1.4m for the three months to 26 June. EBITDA was up 20.8% at $3.4m.
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Net revenues climbed 4.5% to $34.9m as better sales from Inventure’s Boulder Canyon Natural Foods business offset lower private-label sales and a decline in sales from its Burger King brand.
CEO Terry McDaniel said: “While private-label snack sales were down for the quarter, due mainly to the timing of promotional activity, we have picked up a significant new private-label customer. This product will be produced in our Bluffton plant, commence shipping in August and help our return to growth in private label during the second half of the year.”
