US foodservice distributor Performance Food Group has reported a 35% rise in quarterly profit, helped by higher sales of fresh foods to supermarkets and restaurants.
The Richmond, Virginia-based company posted profit of US$21.6m, or 44 cents per share, for the third-quarter, compared with $16.0m, or 34 cents per share, a year earlier. Analysts had been expecting, on average, earnings of 46 cents a share, reported Reuters.
Sales rose 19% to $1.39bn, boosted by acquisitions and strong demand for the company’s “tender leaf” salads.
Performance Food forecast fourth-quarter earnings of 40 to 45 cents a share, and full-year earnings of $1.67 to $1.72 per share, citing the current strikes by grocery workers in some stores in certain US states.