Campbell Soup has today (21 May) posted rising third-quarter revenue and earnings amid growing soup sales in the US.
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The company posted underlying operating profit of US$217m for the three months to 29 April, up from $146m a year earlier. Net sales rose 8% to $1.9bn.
Campbell saw its quarterly earnings bolstered by the settlement of a pricing agreement covering the US and Canadian markets. Nevertheless, soup sales in the US climbed 10% thanks to effective advertising, the company said.
President and CEO Douglas Conant said: “Campbell continues to deliver outstanding performance this year, with good growth across our portfolio. Our US soup business was robust in the quarter and has performed well in the year-to-date, with lower sodium soups continuing to exceed our expectations.”
Sales of Campbell’s condensed soups were up 4%, while sales of the company’s namesake ready-to-serve soups were up 17%.
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