Net profit reaches $3.1m
Operating profit climbs to $5.15m
Net sales grow 14.9%
US frozen-food firm Overhill Farms has recorded what it says is a "substantial" increase in full-year profit and sales, despite a "challenging" economic climate.
Earnings in the 12 months to the end of September reached US$3.1m from $1.4m a year earlier, driven mainly by an increase in revenues. Operating profit climbed to $5.2m, a 98% jump on fiscal 2011.
Sales amounted to $194.4m, an increase of 14.9% from last year, primarily a result of higher sales volumes from the company's Boston Market products and from a major foodservice account, it said.
"We continue to see the positive effects of our Boston Market frozen food license," said president and CEO James Rudis. "We are pleased to report that the Kroger supermarket chain, with 2,425 stores in 31 states, will begin carrying our Boston Market brand frozen foods, with initial shipments scheduled for February of 2013."
