Processed potato company's earnings rise by 19%
The Lamb Weston division in November was spun off as its own publicly traded company. Lamb Weston reported that earnings for the second quarter were up 19 percent at $87 million, or 59 cents per share, compared to sales during the same period last year, when the operations were part of ConAgra. Sales of $791 million were up 7 percent for the quarter ending Nov. 27.
The manufacturer mainly sells frozen french fries and other potato products to restaurants, schools and other large food service operators.
Chief Executive Tom Werner, who ran the commercial foods unit under ConAgra, said demand continues to grow worldwide and the company is working through a period of tight capacity until a new french fry processing line comes online in Washington this fall.
source: omaha.com
