Good news for SunOptaThis article was originally published in Foodnews
CANADIAN organic food producer, SunOpta Inc, recorded a strong start to 2011, despite rising commodity prices. Earnings rose 24% to USD5.7 million in the first quarter, compared with USD4.6 million in the year-ago period. Growth was fuelled by gains from its grains and international foods segments. Revenues were up 20% to USD261 million in the quarter. In a bid to streamline its portfolio, the company has sold off three non-core operations in the last twelve months, most recently its Mexican frozen fruit assets. During this period, it also made two strategic acquisitions. Chief executive Steve Bromley said SunOpta is well-positioned to continue profitable growth in the future.