up $189 million from fiscal year 2012-2013
Blue Diamond Growers almond sales soar to $1.2 billion
Value-added sales volume increased by 14 percent, even with a crop that was 7 percent smaller, according to President and CEO Mark Jansen who addressed the cooperative's grower owners at their 103rd annual meeting. Value-added sales now represent more than 60 percent of the co-op's revenue, including manufactured ingredients and consumer retail products.
"We accelerated our transformation into a global branded food manufacturing company, while making significant investments to ensure continued profitable growth. In April we opened our Almond Innovation Center on our Sacramento campus followed by the June grand opening of our Turlock plant, the largest single investment in the history of the California almond industry," said Jansen.
"This is the third year in a row for returning record revenue per acre to Blue Diamond growers. The 2012 crop exceeded the 2011 record by 21 percent, making the final total grower payment of $828 million the largest single payment ever made to almond growers!"
Margin enhancement projects included improved manufacturing yields and faster processing lines, resulting in cost reductions of $11.3 million, for a three-year compounded savings of $38 million.
Energized by enhanced advertising investments and new products, sales thrived in 2012-13. In North America, the branded consumer business increased 30 percent to $469 million.
Internationally, Blue Diamond's branded sales were up 90 percent in volume versus the prior year, while net sales were up 95 percent. For the first time in the cooperative's history, branded advertising aired on three continents - North America, Australia and Europe.
Blue Diamond Global Ingredients sold fewer commodity almonds in a short crop, but still managed to grow its manufactured ingredient business volume by 14 percent. This business has doubled in size over the last four years.
For more information please visit the website at www.bluediamond.com