US jam maker JM Smucker has reported a rise in quarterly profit on strong sales of peanut butter and jam, and on the inclusion of the Jif product line it acquired last year.
The Orville, Ohio-based company reported fiscal fourth-quarter profit of $23.2m, or 46 cents a share, compared with $6.7m, or 28 cents a share, in the year-ago period.
Excluding one-time costs related to Smucker’s acquisition of the Jif and Crisco brands the company earned 51 cents a share. Analysts polled by Thomson First Call had been expecting, on average, earnings of 46 cents a share, reported Reuters.
Smucker’s fourth-quarter sales rise 87% to $329.0m.
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