Michael Mendez, the CEO of US food manufacturer Diamond Foods has said he is expecting the company's net income to grow 20% on average each year over the next five years.
Speaking at the Barclays Back to School Consumer Conference yesterday (7 September) said the growth would come from driving strong earnings through top-line growth, increasing scale and expanding margins.
Mendes said innovative new products, focused investment in its brands, increased distribution and strategic acquisitions would result in 8-10% compound annual sales growth over the next five years.