Premium Brands Holdings, a specialty food products company, has reported a 16.4% rise in its Q1 2014 revenues to $266.9m, compared to $229.2m in the same quarter last year.
The company's earnings for the quarter were $1.9m against $1.2m for the first quarter of 2013.
During the first quarter of fiscal 2014, Premium Brands completed the sale and leaseback of its distribution facility in Surrey, a deal which resulted in net proceeds of $10.2m.
Premium Brands president and CEO George Paleologou said the company continues to make solid progress in growing the potential of our company, although, the past quarter presented some significant short term challenges.
"Looking forward, we expect to emerge from this difficult environment stronger and even better positioned as we take advantage of opportunities that might not have presented themselves under normal operating conditions," Paleologou added.
