Seneca Foods, a US-based canned fruits and vegetables processor, reported 400% increase in net earnings to $14.5m for the second quarter of 2013 ended 29 September 2012, compared to $2.9m for the same period in 2012.
The company reported 12.3% in net sales for the period to $317.6 million, compared to $34.9m for the corresponding period in the previous year.
Seneca Foods attributed the increase in sales to higher selling prices and a sales volume increase of $11.2m.
A part of the sales volume increase is from stronger promotional activity compared to the prior year, the company noted.
Seneca Foods sells its products under Libby's, Aunt Nellie's Farm Kitchen, Stokely's, READ, Seneca Farms, and Seneca labels and through private label markets. Seneca produces canned and frozen vegetables, that are sold by General Mills Operations under the Green Giant label.
