Post Holdings reported net earnings of $49.9 million in the year ended Sept. 30, compared with last fiscal year’s net loss of $424.3 million on charges related to its spinoff from Ralcorp Holdings.
Post took $566.5 million in charges for impairment of intangible assets in fiscal 2011.
The branded cereal company’s fiscal 2012 net sales decreased nearly 1 percent to $958.9 million compared with fiscal 2011. The decline was driven by 3 percent lower volumes, only partially offset by higher gross and net pricing. For the fiscal year, Honey Bunches of Oats and Pebbles volumes were down 2 percent and 6 percent, respectively, versus the prior year, but Great Grains experienced a year-over-year volume increase of 10 percent.
Post Holdings (NYSE: POST), led by CEO Bill Stiritz, was spun off from St. Louis-based private label food company Ralcorp Holdings (NYSE: RAH) in February. Read more on St.Louis Business Journal.
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