Snyder’s-Lance increases profit in 2013
02/07/2014 11:13 AM
02/07/2014 11:14 AM
Charlotte-based snack maker Snyder’s-Lance reported Friday that it earned $78.7 million over the course of 2013, a 33 percent jump from the year before.
The company earned $22 million in the fourth quarter. Executives cited strong performance in its core brands, which include Lance crackers and Snyder’s pretzels.
“In 2013 we strengthened our position as a leader in premium, differentiated snacks and are excited about the potential of 2014,” CEO Carl E. Lee Jr. said in a statement. The company predicted earnings per share would increase between 10 percent and 16 percent in the coming year as it promotes its “better for you” line of snacks.
Snyder’s-Lance boosted its advertising by 20 percent, coinciding with the company’s 100th anniversary. Philip L. Lance launched the company in 2013 by selling peanut butter and crackers on the streets of Charlotte.
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