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MGP Praises First Quarter Strength

By Brian Hagen

05/18/2016

(KAIR)--“Pleased with the results” for the first quarter.

That's the message delivered by Gus Griffin, the President and CEO of Atchison-based MGP Ingredients following the release of the results for the first quarter, which ended March 31st.

Included among the highlights for the company are increases in the gross profit, the gross margin, the net income and earnings per share.

Griffin, in a release from the company, cites MGP's long term strategic plan for the continued progress, saying that while “net sales declined due to softness” in some of the company's lowest margin products, the focus on the highest margin products “drove a significant increase in gross profit.”

Griffin says “the momentum established in 2015 has continued into the first quarter of 2016,” saying the company's strategy of maximizing the value of its production “is clearly producing results.”

Coming on the heels of the announcement of the quarter's profitability, is MGP's annual meeting of shareholders. That is set to happen Thursday morning at the Atchison Event Center.

The good news also arrives as the company celebrates it's 75th Anniversary, with a community party, marking that occasion, planned for Sunday.

It will happen from 12:30 until 6:00 at the Atchison Event Center.

Featuring a picnic style lunch at 2:00, the day will also include music, giveaways, children's activities, prize drawings, and a chance to view MGP's history.

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