For the 2nd quarter J.M. Smucker has doubled its profits. This growth is from its Folgers acquisition and the fact that consumers are eating in more compared to going out. Smucker has earned $140 million, or $1.18 per share, compared with $51.5 million, or 94 cents per share, a year prior. Revenue improved to $1.28 billion from $843.1 million.
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Last year Smuckers acquired Folgers and this has proved to be a move that has paid off substantially for the company. It has also benefited during the recession from customers eating at home more often, often focusing on basic food items.
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