USA: Lifeway Q2 profit rises on higher sales
US cultured dairy company Lifeway Foods has reported second-quarter revenues up 27% to US$5.07m.
Net income was $0.56m for the second quarter to 30 June 2005, compared to $0.43m in the same period of 2004.
"We are extremely pleased with our second quarter and six months results. We continue to grow our distribution in new channels, and sales from our existing customers also continued to increase. In addition, Target stores have been steadily reordering. We just recently entered into our first food service market set with distribution to Cosi restaurants, and in the coming months we hope to also enter into our first hospital/health care market," said Julie Smolyansky, CEO.
Lifeway is a supplier of the cultured dairy product known as kefir. Kefir is a milk-based beverage that contains ten types of active probiotic cultures. In addition to its line of Kefir products, the company also produces a variety of cheese products and recently introduced an organic line of pudding called "It's Pudding!"
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