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Lifetime Brands cuts the mustard as profits soar

Monday, March 13, 2017 8:49
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Home and kitchenwares group Life Time Brands Inc (NASDAQ:LCUT) jumped 13% as profits in 2016 soared after a record fourth quarter.

Jeffey Siegel said it was an exceptional year for the group, helped by the performance of acquisitions Amco, Armetale Copco and Swing-away.

Core brands such as Kitchenaid and Faberware also did well, Siegel said, with the final quarter overall the best the company had ever recorded both for revenue and profits.

Net income for the last three months of 2016 rose to US$14.7mln (US$11mln) on sales 4.1% better at US$193.5mln, while profits over the year climbed to an adjusted US$19.2mln from US$14.2mln.

Shares rose US$2 to US$16.05.

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