Land O' Lakes sales up 8% for 2003.(More News & Trends)(Brief Article)

Frozen Food Age, February, 2004

Land O'Lakes reported year-end sales of $8.3 billion, an 8% increase over 2002 sales of $5.8 billion. The Arden Hills, Minn.-based company said the sales increase was due in part to the consolidation of MoArk (Land O'Lakes' egg industry joint venture) into the company balance sheet. Without that accounting change, sales were up 3%.

The company's Dairy Foods division reported sales of $884 million for the quarter and $3.0 billion for the year, as compared to $748 million and $2.9 billion in 2002. Particular areas of strength in the value-added business were butter and superspreads, foodservice, and deli cheese. Land O'Lakes says that sales of two new branded dairy products, Spreadable Butter with Canola Oil, Soft Baking Butter with Canola Oil,...