WhiteWave Foods has increased its forecast for full-year earnings per share on the back of higher second-quarter revenue and profits.
For the three months ended 30 June, the Alpro and Silk owner reported net profit increased 9% to US$37m. On an adjusted basis it increased 10% to $44m.
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Total operating profit increased 9% to $77m on a reported basis. Adjusted, operating profit was up 10% at $85m.
On a reported basis, net sales grew 10% to $924m. At constant-currency net sales increased 14% to $952m.
For the full year, WhiteWave now expects adjusted diluted earnings per share of $1.07-1.10 up from its previous forecast of $1.03-1.07.
The company also has provided firmer guidance on its net sales. In May, it had forecast a low double-digit increase on a reported basis. It now said it expects an increase of 12-13%. On a constant-currency basis, WhiteWave had forecast a sales increase in the low teens but today provided guidance for an increase of 15-16%.
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By GlobalDataFor the first six months of the year, WhiteWave's net income increased to $70.8m from $66.7m. Operating income grew to $147.1m from $120.9m and sales rose to $1.83bn from $1.67bn year-on-year.
The firm also today announced the acquisition of US firm Wallaby Yogurt Co. in a $125m deal.
