US food group JM Smucker today (15 February) announced an increase in third-quarter sales, citing the acquisition of Eagle Foods Holdings as an attributing factor.
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For the three months ended 31 January, net sales increased 27% to US$665.4m compared to the third quarter of 2007 and net income saw an increase of 6% to US$42.4m.
The acquired Eagle business contributed US$69.3m in the quarter and the additional acquisition of Carnation condensed milk in Canada and a favourable exchange range also contributed.
“On the strength of our brands, we delivered good growth this quarter,” said Richard Smucker, president and co-chief executive officer. ” We maintain a long-term view on managing our business and are confident in our ability to continue to achieve profitable growth.”
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