June 6, 2013 / 11:16 AM / 5 years ago

CORRECTED-Smucker's adjusted profit rises 13 percent

(Corrects headline and paragraphs 1 and 3 to say the company’s adjusted profit, not net profit, rose 13 percent)

June 6 (Reuters) - J.M. Smucker Co, the maker of Folgers coffee and Jif peanut butter, reported a 13 percent rise in fourth-quarter adjusted profit as lower commodity costs boosted gross margins in its coffee business.

Gross profit margins in the coffee business rose to 27.6 percent from 23.1 percent a year earlier.

The company’s adjusted profit rose to $138 million, or $1.29 per share, from $122 million, or $1.10 per share.

Revenue slipped 1 percent to $1.34 billion. (Reporting by Aditi Shrivastava in Bangalore; Editing by Maju Samuel)

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