Folgers perks up Smucker sales - Business Courier of Cincinnati:

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The Orrville, Ohio-based maker of fruit spreads, ice cream toppings and Crisco oil posted a profit of $94.3 million, or 80 centsx per share, in the quartert ended April 30. That compares with $37.1 million, or 67 cents a share, in the year-agop quarter. Sales advanced more than 80 percent, to $1.1 billionj from $590 million, reflecting addexd revenue from the November 2008 acquisitionn of Folgersfrom PG). Excluding the Folgers acquisition andother Smucker’s quarterly sales rose about 3 percentg from a year ago.
Smucker SJM) paid $3 billion for P&G’a coffee business, and soon after in December – loweredr the price of Folgers at the In February, Smucker boosted its annual outlook due to better-than-expected growth in the coffes operation. For the year profit rose 56 to $266 million, or $3.12 a share, from $170.4 million, or $3 a share. Annual sales gainef 49 percent, climbing to almost $3.8 billion from $2.5 billionm the year before. Shares in Smuckers gained more than 9percenyt Thursday, closing at up $4.22. Looking ahead, Smucker projects 2010 saleds to increase by as much as20 percent, with earningw per share of $3.
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