Shares in Hain Celestial jumped in after-hours trading in New York after the US group reported an 11% increase in fourth-quarter profits and issued forecasts for the new financial year that were above analyst expectations.
The owner of Ella’s Kitchen baby food and New Covent Garden soup posted a 10.9% rise in net income to US$25.9m for the three months to the end of June. Quarterly sales hit a “record” $463.5m, up 32.1%, as Hain Celestial’s results again showed the impact of the recent acquisitions it has made.
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The company issued forecasts for sales and earnings for its new financial year. It sees earnings per share increasing 16-20% to $2.95-3.05 and net sales up around 17% to $2.03-2.05bn.
Analysts surveyed by Thomson Reuters forecast earnings of $2.92 a share and sales of around $2bn.
Hain Celestial issued its release after the NASDAQ main trading session closed at 4pm ET. Its stock was up 7.34% in after-hours trading to $72.90.
Click here for Hain Celestial’s comments on the year ahead and why it thinks it can boost profitability.
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By GlobalDataClick here for news on the company’s UK business.
Click here for the full statement from Hain Celestial.
