Premium Brands Holdings Corp. (TSX:PBH) enjoyed record revenue but saw profit fall in the quarter that ended June 27.
The Vancouver food-distribution company reported August 6 that revenue jumped 8.2% to $124.3 million in the second quarter compared to the same quarter in 2008.
Its second quarter profit dropped from $7.4 million, or 43 cents per share in 2008, to $6.6 million, or 38 cents per share in 2009.
Premium Brands is one of B.C.'s fastest growing acquirers. It has bought more than 30 companies in the last dozen years.
Premium Brands' main businesses include food distribution (Centennial Food Service Partnership), food manufacturing (Grimm's Fine Foods) and food retailing (Bread Garden).
"Overall, we are pleased with how our business has weathered one of the most significant economic downturns in recent times," said president and CEO George Paleologou.
Premium Brands' share price this week ranged between $10.19 and $10.50; 52-week high: $12.35; 52-week low: $6.55.