For the Food and Ingredients Segment (31% of first-quarter sales), representing sales of Specialty potato, dehydrated vegetable, seasonings, blends, flavors, and milled grain products sold to foodservice and commercial channels worldwide, the report says the following:
During the quarter, sales for the Food and Ingredientssegment were $909 million, 11% ahead of last year. The increase reflects stronger prices and volumes for the Lamb Weston specialty potato operations, which experienced very strong sales growth for export markets, as well as higher flour prices primarily driven by higher wheat input costs. Segment operating profit was $120 million for the quarter, 15% ahead of the year-ago amounts, reflecting Lamb Weston’s sales growth and focus on efficiencies.
