Nut manufacturer John B Sanfilippo has reported a sales increase for the first half of its financial year, boosted by increased sales volumes. However profitability remains a mixed picture due to increased costs, Just Food reports.
Sales to December 2013 sales rose to $401.8 up from $393.1m the previous year. Operating profit also saw an increase, rising to $28.7 from $28.3m, while net profit was up to $16m. However the cost of goods sold dented gross profits – these dropped to $67.2m.
Sales volumes in all four of the main distribution channels increased, particularly the consumer segment which grew by 28.5%.
“I am pleased with our second quarter results, especially the continued growth of our Fisher recipe nut. I am proud of our sales, marketing and supply chain teams for driving volume increases across all four of our distribution channels in the second quarter,” said Jeffrey T. Sanfilippo, Chairman and Chief Executive Officer.
Source: Just Food