MIAMISBURG, Ohio -- Super Food Services here expects faster growth in fiscal 1996, Jack Twyman, chairman and chief executive officer, told shareholders at the company's annual meeting last week. Twyman said growth will be fueled by warehouse additions and cited good volume performance early in the current fiscal year.
rishables addition and a 165,000-square-foot dry grocery addition to facilities in Michigan, Twyman said. "Although those projects were completed in 1994, we spent 1995 assimilating them into our operations and tweaking them to gain efficiencies,
and if we can gain sales going forward, the infrastructure is in place to be able to generate a better return," Twyman told SN following the meeting. Super Food sales were $1.15 billion in the fiscal year ended Aug. 26, 1995; $1.13 billion in fiscal 1994, and $1.17 billion in fiscal 1993. Earnings were $9.07 million in 1995, $8.8 million in 1994 and $9.2 million in 1993. Twyman told shareholders he expects the company's overall performance to improve in 1996 over the levels of the past three years. "For the past couple of years we've been distracted by litigation, and preoccupied with the expansion of our physical plants. "But if we focus on what we need to do, then we should do a better job in 1996." Like other shareholders, Twyman said he has been frustrated "at the inability of the stock market to recognize the inherent value of our company. But as managers all we can do is perform as best we can, and if we do that, then earnings per share will increase and the stock performance will improve." He noted that Super Foods has been successful this year in retaining the business of Thriftway Markets, a 25-store chain based in Cincinnati that was acquired last February by Winn-Dixie, Jacksonville, Fla.