Lamb Weston Holdings has released its results for the third fiscal quarter of 2021, as well as an update for the fourth fiscal quarter of 2021
“We sold solid numbers this quarter as consumers and restaurants responded well to the gradual relaxation of the restrictive measures during this quarter, but also thanks to the relatively mild winter,” said Chairman and CEO Tom Werner. “However, Covid-19 continued to disrupt manufacturing and distribution activities within our chain, leading to higher costs.”
“We expect demand for frozen potato products to continue to grow in the coming months as governments implement further easing. In addition, the warmer weather will increase the options for outdoor dining. The continued impact of Covid-19 on our supply chain will put pressure on our supply chain in the near term. continue to exercise at our expense, but these will decrease once the vaccine becomes available to our employees and those of our partners. “
“In addition, we remain optimistic that US demand will return at a steady pace to pre-pandemic levels by the end of 2021. The investments we recently announced to build a new factory in China and expand our processing capabilities in the US demonstrate the confidence we have in the longer-term health of this global category, as well as our strategy to support the growth of our customers as they continue to grow in our key markets. ”
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