Juice maker Lassonde posts Q3 profit of 11.2M; revenue up slightly at $257.6M

ROUGEMONT, Que. – Fruit and vegetable drink maker Lassonde Industries Inc. (TSX:LAS.A) boosted its profit in the third quarter amid a slight increase in revenue.

Net profit attributable to shareholders was $11.2 million, or $1.60 per share, in the three months ended Sept. 28, up from $10.4 million, or $1.49 per share, in the comparable 2012 period.

The Quebec-based company, which also makes specialty food products, said Tuesday that revenue increased to $257.6 million, up one per cent from $255.1 million in the year-earlier period.

This increase was primarily driven by a favourable foreign exchange impact, partly offset by an unfavourable sales mix and lower private label sales attributable to the displacement of cranberry sauce sales to the fourth quarter.

Lassonde, which employs some 2,000 people at 14 plants across Canada and the United States, develops, manufactures and sells a wide range of fruit and vegetable juices and drinks marketed under brands such as Everfresh, Fairlee, Flavur, Fruite, Graves, Oasis and Rougemont. It is also the second-largest producer of store brand ready-to-drink fruit juices and drinks in the United States.