Article Date 13/08/2019

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Lassonde Industries Inc. announces its Q2 2019 results

Source newswire.ca

Lassonde Industries Inc. posted sales of $419.7 million in the second quarter of 2019. Excluding an $8.1 million favourable foreign exchange impact, second-quarter sales were up 5.3% year over year. The Company's operating profit for the second quarter of 2019 totalled $27.5 million, down $0.5 million from $28.0 million in the same quarter last year. Second-quarter profit attributable to the Company's shareholders totalled $15.6 million, down $2.5 million year over year.

For the second quarter of 2019, the Company's sales totalled $419.7 million, up $28.8 million or 7.4% from $390.9 million in the second quarter of 2018. Sales from Old Orchard Brands, LLC ("OOB") stood at $31.7 million in the second quarter of 2019. OOB's sales had reached $12.4 million for the period of May 31, 2018 (the date when OOB began operating under the Company's control) to June 30, 2018. Excluding OOB's sales and an $8.1 million favourable foreign exchange impact, the Company's second-quarter sales were up $1.4 million (0.4%) year over year. This increase was mainly due to an increase in sales of private label products, partly offset by a decrease in sales of national brand products. For the first six months of 2019, sales totalled $823.3 million, up 10.0% from $748.6 million in the first six months of 2018.

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