May 12, 2008, Rougemont, Que. –
Lassonde Industries Inc. more than doubled its first-quarter profit as
revenues rose to $118.5 million, up 36 per cent from the same period of
2007.
May 12, 2008, Rougemont, Que. – Lassonde Industries Inc. more than doubled its first-quarter profit as revenues rose to $118.5 million, up 36 per cent from the same period of 2007.
Net income was $5.8 million, or 87 cents per share, up from $2.7 million or 41 cents per share in the first quarter of 2007 when revenue was $87.2 million.
The company, which supplies fruit juices and other foods to groceries, attributed the growth in sales to two acquisitions at the end of 2007 and to an increase in market share in most of its sales territories.
The cost of goods sold and operating expenses went from $80.2 million in the first quarter of 2007 to $106 million in the first quarter of this year, with the percentage of revenues falling due to the combined effect of economies of scale and a sharp increase in
raw material prices affecting fruit concentrates and freshly squeezed juices in 2007.
“These results are slightly better than our expectations and bode well for fiscal 2008,” said Pierre-Paul Lassonde, chief executive of the company. “We must, however, remain vigilant in the face of potential increases in the cost of certain raw materials.”
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