Pinnacle Foods has recently announced its Q4 financial results, indicating that the Birds Eye frozen vegetables brand has recorded strong net sales, together with the Voila! meals segment and the Hungry-Man frozen entrees.
Net sales for the Company’s North America Retail business, which is comprised of the Birds Eye Frozen and Duncan Hines Grocery segments, advanced 6.9%, while consolidated net sales for the year increased 5.2% to USD2.59bn, compared to $2.46 billion in fiscal 2013.
Net sales for the Birds Eye Frozen segment increased 4.9% to USD317.4m in the fourth quarter of 2014, which reflects continued distribution expansion as well as the strong growth of Voila! Family Size varieties, along with strength of Hungry-Man frozen entrees, driven by success of the new Hungry-Man Selects line.
Commenting on the results, Pinnacle Foods Chief Executive Officer Bob Gamgort stated, “We are pleased with the strong results we delivered in our second year as a public company – achieving double-digit EPS growth, expanding gross margin and generating exceptional cash flow that enabled us to reduce leverage and return over USD100 million in cash to our shareholders through dividends. The 2015 guidance that we are providing today reflects the confidence we have in the ability of our business model and team to continue to create shareholder value.”