The JM Smucker Company, a North America-based manufacturer of fruit spreads, ice cream toppings, beverages, shortening, natural peanut butter and other products, has posted net sales of $1,369.7m for the 2013 first quarter (Q1) ended 31 July 2012, up 15%, compared to the net sales of $1,188.9m during the same period last year.

Gross profit for the 2013 first quarter was increased by 9%, compared to the first quarter of 2011, while excluding special project costs, gross profit was increased 7% in Q1 2013, as against the quarter ended 31 July 2011.

Operating income was increased by 5% to $190.5m in the first quarter of 2013, compared to the same period previous year.

Net income excluding special project costs was increased to $129.3m from $128.2m in Q1 2011.

The US Retail Coffee segment net sales increased 4%, compared to the first quarter of 2012, as increased volume and favorable sales mix driven by K-Cups were somewhat offset by lower net price realisation reflecting price declines since the first quarter of 2012.

Segment volume increased 5% in the first quarter of 2013, compared to the first quarter of 2012, as the Folgers brand increased 4% and Dunkin’ Donuts packaged coffee increased 11%.

Net sales of Folgers Gourmet Selections and Millstone K-Cups remained strong and increased $30.7m, compared to the first quarter of 2012.

The JM Smucker Company CEO Richard Smucker said they are pleased with the solid start to the fiscal year with growth in volume, sales, and cash flow.

"While the environment remains challenging, we continue to drive long-term growth through brand-building, product innovation, acquisitions, and productivity initiatives while maintaining a healthy balance between volume, market share, and profitability," Smucker added.

"Our results demonstrate the strength and resiliency of our iconic brands, our ability to adjust rapidly in the marketplace, and the commitment of our team to our strategy."