US own-label firm TreeHouse Foods has booked a decline in third-quarter profit as a result of higher input costs and drop in volumes.
Earnings in the three months to the end of September totalled US$21.6m compared to $30.4m last year. Operating profit slid 21.5% to $41.3m, the company reported today (6 November).
Sales in the period amounted to $538.1m versus $528.1m last year, an increase of 1.9% due to additional sales from the acquisition of Naturally Fresh and increased pricing to offset higher input and operational costs.
The company said that while it had volume increases in categories such as pasta sauces and hot cereals, lower volume in the non-dairy creamer, dressings, jams and powder drinks categories more than offset the volume gains.
