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Campbell Soup reports 12% increase in net sales for fiscal 2013

RBR Staff Writer Published 30 August 2013

Campbell Soup, a US-based food products manufacturer and marketer, has posted a 12% increase in net sales to $8.1bn for the fiscal 2013 compared to $7.2bn in 2012.

The 12 months period ending 28 July 2013 also grossed a net earnings of $689m against net earnings of $1.07bn in the year-ago period.

Net sales for the fourth quarter of fiscal 2013 increased to $1.7m, compared to $1.5m for the same quarter a year ago.

During the 12 months period, marketing and selling expenses rose to $947m and administrative expenses increased to $677m.

Rise in the marketing and selling expenses has been seen due to the acquisition of Bolthouse Farms and higher incentive compensation costs.

For the fiscal 2013, sales for US simple meals, soup, and sauces grew by 5% compared year-ago period.

For the fourth quarter US simple meals, soup, and sauces grew by 7%, 4%, and 12% respectively, compared to year-ago quarter.

During the quarter, sales for Bolthouse and Foodservice were $300m for the three months period ending 28 July 2013, with the acquisition of Bolthouse Farms adding $185m.

Campbell Soup president and CEO Denise Morrison said, "In fiscal 2013, we launched many new products, including Campbell's Skillet Sauces and Campbell's Go Soups to reach new consumers, such as Millennials.

"We also added a trio of growth engines through our acquisitions of Bolthouse Farms, Plum Organics and the Kelsen Group."