Kelowna, BC-based Sun-Rype Products, a national manufacturer of apple-based food and beverage products, has reported that sales broke the C$100m (US$62.22m) barrier for the first time in 2001.
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Lawrence Bates, president and CEO of Sun-Rype Products, announced 2001 earnings at C$5.2m, or C$0.49 per share, on sales of C$101.1m. This compares to earnings of C$4.9m, or C$0.49 per share, on sales of C$94.7m in 2000.
Bates explained that the sales breakthrough “was attributable to increases in branded food and beverage products.
“This is our fourth year in a row of increased earnings. We had a good year in spite of the costs incurred in commissioning the new beverage processing and packaging equipment and extending the Fruit to Go line to seven days a week, three shifts a day production.
“We also launched a new product – Fruit & Veggie bar – in the third and fourth quarters and are pleased with our distribution of this product.”
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By GlobalDataSelling, general and administrative costs for 2001 were up C$3.8m over 2000, due mainly to an increase in marketing expenditures and an increase in sales costs commensurate with the increase in sales.
“We’re looking forward to 2002,” Bates added. “Now that we’ve revitalized our beverage products and have new beverage processing and packaging equipment in place, we can turn our attention to increasing our production capacity for our food products.”
