Sysco on the up

- Last updated on GMT

Related tags: Million, Restaurant

Sysco, the largest supplier to the US food service industry, has
posted its 104th consecutive quarter of sales and earnings growth.

Sysco, the largest supplier to the US food service industry, has posted its 104th consecutive quarter of sales and earnings growth.

The company announced that earnings in its fiscal third quarter rose, partly because of increased services to major accounts.

The company said it earned $151 million (€167 million) in the period which ended 30 March, compared with $139.4 million a year earlier. Sales rose to $5.62 billion from $5.34 billion the previous year.

"We feel that our strategies are well-developed, and Sysco is in a position to take advantage of the long-term growth in the food service industry,"​ said Diane Sanders, vice president and treasurer at Sysco.

Consumers can either spend their money on food at the grocery store or on food prepared away from home, and Sanders said that for the past three decades the percentage of sales on the away-from-home side have risen to a little more than 50 per cent.

Sanders said that she was also encouraged that some segments of the food service industry that were hit hard by the events of September 11 - such as hotel and travel - were starting to show solid growth.

Sysco food provides products and services to restaurants, healthcare and educational facilities and other food service operations.

Related topics: Processing & Packaging

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