US distributor United Natural Foods (UNFI) has recorded an increase in first-quarter profit.
In the three months ended 27 October, net profit amounted to US$21.5m compared to earnings of $15.2m last year. Operating profit climbed 40.8% to $36.6m.
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Net sales totalled $1.41bn, an increase of 15.8%, driven by the acquisitions of certain assets of three distributors completed during the first quarter.
Despite moderated inflation and higher than anticipated product shortages, strong consumer demand continued to drive steady growth for our products and services during the quarter,” said Steven Spinner, president and CEO. “We anticipate growth for the holiday season should remain strong as consumers continue to move towards a healthier lifestyle.”
