Posted on 19/11/05
Van Houtte posts profit and announces acquisitions
Van Houtte Inc. announced a 7.7-per-cent rise in its second-quarter profit yesterday and said it has paid $5.8-million for three more coffee service firms. Profit for the quarter ended Oct. 15 amounted to $5-million or 24 cents a diluted share compared with $4.7-million or 22 cents a year ago, the coffee company reported. Quarterly revenue rose 8.6 per cent to $84.4-million. Van Houtte also said it has acquired two coffee service providers in Texas and one in Edmonton. "These two acquisitions will give us a solid foothold in the Houston market, the fourth largest in the United States," chief executive officer Jean-Yves Monette said. VH.SV (TSX) rose 35 cents to $20.10. CP
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