Natural frozen and chilled food manufacturer MamaMancini’s Holdings saw higher third quarter net losses on charges, despite reporting bumper sales in the period.
The company said that it expects net losses to increase to US$700,000, up from $494,000 in the comparable period of last year. The loss included a one-time early termination fee for MamaMancini’s credit facility as well as costs associated with the roll out of new placements.
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During the three months the group did, however, witness strong sales momentum. Estimated sales for the period to 31 October are expected to total US$3.7m, up 71% on the $2.2m reported in the third quarter of 2013.
MamaMancini’s attributed growth to increased distribution in new channels and “heavy merchandising”.
The group is scheduled to publish detailed financial results in December.
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By GlobalData
