Hain Celestial booked “record” results in the first quarter driven by existing and recently acquired brand performances, and reiterated its guidance for the full-year.
The owner of Ella’s Kitchen baby food and New Covent Garden soup recorded earnings of US$27.6m in the three months to the end of September. This compared to a profit of $16.4m in the prior year.
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EBITDA was up 36.6% to $54.8m, while sales soared to $27.6m from $16.4m in the comparable period last year.
“We are pleased with the strong start to our fiscal year with robust growth globally from numerous brands in our portfolio,” said Irwin Simon, CEO of Hain Celestial. “We continue to focus on driving sales growth and distribution gains, which, combined with margin enhancement and cost containment, will position us for sustained earnings growth.”
Hain reconfirmed its annual guidance for fiscal year 2014 for a net sales range of $2.02bn to $2.05bn; an increase of around 17% on fiscal 2013. EPS of $2.95 to $3.05 is expected; an increase of 16% to 20% on 2013.
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