Probiotics firm Lifeway Foods has seen its quarterly earnings more than double on the back of rising sales of key brand Kefir and its February acquisition of Fresh Made Dairy.
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Lifeway said yesterday (13 August) that second-quarter net income reached US$2.5m in the three months to June – compared to $911,718 a year earlier.
Revenues rose 26% to $14.5m, while a fall in the cost of conventional milk also helped boost Lifeway’s bottom line.
“From top to bottom this was our best quarter in our company’s history,” CFO Edward Smolyansky said.
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By GlobalData
