Shares in US organic food group Hain Celestial were down at the close of trading in New York last night (25 August) after the company booked a US$25m annual loss.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Celestial Seasonings and Rice Dream maker posted a net loss of $24.7m for the year to 30 June – against net income of $41.1m a year earlier.
Hain also reported an operating loss of $8.7m compared to operating income of $76.8m in its fiscal 2007/08 year.
Annual sales, however, were up 7.4% at $1.14bn, although fourth-quarter revenues fell, dipping 5.6% to $262.7m.
“Our business demonstrated solid performance with growth from our United States and Canada operations in a tough economy,” president and CEO Irwin Simon said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHain’s shares stood at $18, down 1.3%.
Click here for the full statement from Hain Celestial and check back soon for further comment from the company’s management on the conference call.
