US bakery group Flowers Foods has booked a jump in profits for the first half of the year on the back of higher sales.
For the six months ended 18 July, net income grew to US$113.1m compared with $103.1m. EBIT increased to $176.6m compared with $163.6m.
Sales rose to $2.03bn from $2.02bn.
Go deeper with GlobalData
Flowers said sales in the second quarter were lifted its "expansion markets" and by recently-acquired brands from the former Hostess Brands – Wonder, Home Pride, Merita, and Butternut. Second-quarter sales grew 1.8% to $872.8m.
Flowers also benefited from operational benefits in the quarter. "Across a majority of our bakeries we realised improved manufacturing efficiencies, which, when combined with reduced input prices, drove margin expansion this quarter," said CEO Allen Shiver.
EBIT rose to $80m from $65.4m. Net income jumped 23.1% to $51.8m.
Alongside the results, Flowers announced the acquisition of US organic bread supplier Dave's Killer Bread for $275m.
