US group Ingles Markets Inc. has reported that its net income for the third quarter of the year totalled US$11.7m, more than doubling on the US$4.7m that it recorded in the same period of 2009.
According to the US company, the net result was boosted by customer visiting frequency, which led to an increase in revenue of 3.5 per cent, up from US$826.8m last year to US$856.1m.
'We are pleased with our growth in sales and in customer visits to our stores,' noted CEO Robert Ingle. 'Our improved results highlight our goals of building sales and customer visits as drivers to deliver better results in an economic and competitive environment that still has significant challenges.'
For the first nine months of the year, sales increased by 4.7 per cent to US$2.53bn, pushing net income for the period to US$23.3m or 0.9 per cent of sales.
No comments yet