A jump in sales of healthy and natural snacks has helped US firm Inventure Foods post record annual turnover and earnings.
Inventure said yesterday (28 February) sales of the snacks were up 26.8% last year, or 30% when the impact of the extra week in the previous financial year was removed.
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Turnover was up 14.1% at $185.2m for the 12 months to 29 December. Excluding the extra week in Inventure’s 2011 fiscal year and the impact of the disposal of its DSD business, sales increased 17.2%.
Underlying net income more than doubled to US$6.7m. Adjusted EBITDA was up 62.8% at $16m. Fully diluted earnings per share was a record $0.34, Inventure said.
The proceeds from the sale of Inventure’s DSD business boosted net income and EBITDA further. Its reported net income for the year was $7.4m.
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