Shares in US food distributor Sysco Corporation (NYSE:SYY) rang in the month with a 7.71% sprint higher, up $3.07 to $42.88, bucking a downward trend for the S&P500 index, after printing a rise in sales and gross profits in the second fiscal quarter on Monday.
In the 13 weeks to December 26 gross profits rose by 3.4% year-on-year to $2.2 billion while sales increased to $12.2 bln, up 0.6%. The company attributed this to expense management in the face of cost deflation and currency translation pressures.
The adjusted earnings per share (EPS) rose to $0.48, up by $0.07, partly thanks to gains from resolving tax contingencies.
The S&P500 was last down 0.54%, or 10.50 at 1929.74
"Through the first six months of the year, we are on-track to achieve our financial objectives for the first year of our three-year plan," said Bill DeLaney, Sysco chief executive officer.
