Friday, November 6th, 2009
Lassonde posts an increase in sales and profits in the third quarter
ROUGEMONT, Que. - Lassonde Industries Inc. (TSX: LAS.A) reported an increase in both third-quarter revenue and profit on Friday.
The Quebec-based processor of food and fruit beverages said it earned $7.2 million or $1.10 a share in the quarter, up almost 20 per cent from $6 million or 90 cents last year.
Revenue was $127.5 million, up from $124.4 million.
"The growth in net sales mainly reflects increased market share, partly offset by higher trade spending," Lassonde said.
Lassonde declared a quarterly dividend of 27 cents payable to class A and class B shareholders on Dec. 15.
The company's shares were up $1.14 at $47.24 Friday on the Toronto Stock Exchange.
