| Sara Lee sales dip |
By: Rebecca Hubbard
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Posted: Friday, August 13, 2010 2:34 pm
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Maker of Douwe Egberts coffee, Sara Lee, has said that their year to the end of July results were stronger than forecast, despite suffering declining sales.
Net sales decreased by 0.8% to $10.8bn, despite the 2010 period consisting of 53 weeks compared to 52 the previous year. Volumes were down by 3.7%.
$506m was the new net income figure, which has seen an increase of 39%.
Sara Lee Corp interim chief executive officer Marcel H M Smits, said: "Sara Lee concluded a very strong year, highlighted by robust earnings per share growth, an increase in cash flow and higher adjusted operating segment income in most of our ongoing business segments.
"As we look forward to fiscal 2011, we are confident that we will show further base business improvement and we will appropriately deploy the remaining proceeds from the household and body care divestiture."
Smits had to step in after Brenda C Barnes, previous CEO, retired as she had suffered a stroke. |
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