US dairy group Dean Foods has reported a jump in half-year profits as a focus on costs offset flat sales.
Dean Foods yesterday (7 August) reported net income of US$94.5m for the six months to the end of June. A year earlier, it had booked a loss of $25.2m.
Adjusted net income, which excluded one-off items including restructuring costs, asset write-downs and a charge last year from a litigation settlement, more than doubled from $57.1m to $123m.
Sales dipped 0.1% to $6.34bn. Dean Foods said a fall in dairy commodity costs had meant sales from its Fresh Dairy Direct business, which supplies milk to US retailers, were down.
The company also announced plans to list part of the business that runs its soy and organics operations, including the Alpro brand.
