Market News
17Nov2005 |
E.D. Smith's Profits MountThe E.D. Smith Income Fund has a strategic U.S. acquisition and a new line of healthier products to thank for the boost its third-quarter profit. The jam and condiment maker posted a $2.3 million profit for the period ending October 1, or 17 cents a unit diluted, compared with $1.3 million—or 15 cents—in the same period a year earlier. Sales for the three-month period increased 30.1% to $49.2-million from $37.8 million. The rise in profit was also marked by 3% organic growth—from core businesses excluding new acquisitions—in E.D. Smith's Canadian retail and foodservice divisions. Source: Canadian Grocer E-Newsletter, November 17, 2005. 
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