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Charlotte, N.C.-Based Ruddick Corp. Posts 12 Percent Earnings Increase.(Originated from The Charlotte Observer, N.C.)
Oct. 24--A strong performance by thread manufacturer American & Efird helped its parent, Ruddick Corp., finish its fiscal year with earnings up 12 percent, despite difficulties by grocery subsidiary Harris Teeter Inc.
Ruddick earned $47.7 million, or $1.02 a share, on sales of $2.3 billion for the year that ended Sept. 30, which was reported Thursday. That's compared with $42.8 million, or 92 cents a share, on sales of $2.1 billion for the year earlier.
Wall Street expected Ruddick to end the year at $1.03, according to First Call.
The Charlotte-based holding company ended the fourth quarter with earnings up 3 percent, to $11.9 million, …
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