Sysco Corporation has recorded a gross profit of $11.4bn for the year ending June 29th 2019, a 2.9% increase compared to the previous 12 months.
Newly released accounts for the multinational wholesaler show a global 2.4% sales increase, up to $60.1bn for the period.
“Sysco saw improved year-over-year performance in the fourth quarter and fiscal year 2019,” said Tom Bené, Sysco’s chairman, president and chief executive officer. “We continue to focus on our customers and are furthering the progress of our transformative initiatives, which we believe will increase the ease of doing business with Sysco, position us well for the long-term and create value for our shareholders in fiscal year 2020 and beyond.”
The company’s US foodservice operations recorded a gross profit of $8.2bn for the year. Sales for fiscal 2019 were $41.3 billion, an increase of 4.2%.
Internationally, sales for fiscal 2019 were $11.5bn, a decrease of $25.5m. Foreign exchange rates negatively affected total Sysco sales during the year by 0.8%. Gross profit decreased 1.8% to $2.4bn compared to the prior year, due mainly to both the integration of businesses and the macro environment in France.