TreeHouse Foods booked a mixed first-quarter as sales growth boosted operating profit but financing costs weighed on the bottom line.

TreeHouse said today (8 May) that sales in the three months to end-March rose to US$618.9m, up from $540.1m in the comparable period of last year. Operating profit was also up at $50.3m, compared to $44.4m last year.

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However, net profit sank to $14.3m from $22.9m as higher costs and the extinguishment of debt dented the result. The higher Canadian dollar also impacted profitability. 

Sam Reed, chairman, president and CEO commented: “Our first quarter double-digit sales growth exceeded our expectations and reflects strong private label performance, particularly in the traditional supermarket channel; continued expansion of our single serve beverage platform; as well as the contributions from the Cains Foods and Associated Brands acquisitions.”

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