Clearly Canadian posted a drop in second-quarter revenue today (28 August) as a result of the redevelopment of its beverage division.
Go deeper with GlobalData
Total revenue for the three months ended 30 June was down 15% year-on-year to US$2.5m compared to $2.9m for the same period in 2007.
However, total revenue for the six months ended 30 June was up 9.7% year-on-year to $4.9m compared to $4.5m in 2007, attributable to growth in the company’s healthy snack and organic baby food divisions.
The company said its second-quarter decline was a result of active redevelopment of its beverage division from reliance on selling its sparkling flavoured waters in single-serve glass format to selling it in PET packages.
Bobby Genovese, CEO of Clearly Canadian Brands, said: “We are very pleased to announce that we continue to grow top-line revenue through the first half of 2008. We are particularly encouraged to have accomplished this growth while undergoing a transformation of our sparkling flavoured water beverage business, which has necessitated a reduction in inventory and sales.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGenovese said he is confident the company is on target to meet annualised revenue projections in the range of $16m for 2008.
