US health and wellness firm Boulder Brands has booked an increase in first-quarter sales and earnings, boosted by a strong performance from its natural segment.
The company said yesterday (1 May) that bet sales increased 34.5% to $106.7m. Revenue growth was driven by the contribution from acquisitions and a 42.6% jump in sales at its natural business, which includes the Udi’s, Glutino and Earth Balance brands. Organic sales were up 9.5%, the group added.
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Boulder reported EBITDA of $18.3m, up 62% on the first quarter of 2012. Net profit gains were slightly less robust, as higher interest charges weighed on the bottom line. Net profits rose to $3.96m up from $3.7m last year.
The company also announced that it plans to expand in the UK, through the acquisition of gluten-free baker Davies Bakery for GBP2.5m (US43.88m). The deal will see Boulder take on rwh Yes!YouCan brand as well as acreements to co-package private label products. Davies reported GBP1.3m in net sales in the fiscal to end-August.
Boulder Brands said it plans to utilize Davies’ retail relationships, manufacturing facility and expertise in the UK market,to launch Udi’s bakery & grocery items in the UK in 2013.
Looking to the full-year Boulder said that it expects EBITDA to come in at the “high-end” of its previously announced forecast of $450-460m.
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