Costs linked to cuts at its personal care division have hit third-quarter earnings at US-based natural and organics group Hain Celestial.
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The company booked operating income of US$17.4m for the three months to 31 March, down from $23.5m a year earlier.
During the quarter, Hain kicked off a review of its personal care business in a bid to streamline its product portfolio and make its manufacturing base more efficient. Hain said its third-quarter results included $8.5m in charges from the review.
Nevertheless, president and CEO Irwin Simon said the company’s third-quarter performance was “strong” after seeing net sales climb 11.2% to $264.6m.
“We are particularly encouraged that we are seeing consumers continue to be concerned about leading a healthy lifestyle,” Simon said.
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By GlobalDataHain, meanwhile, has named company executive John Carroll to the new position of CEO of its operations in the US. Carroll had been president of Hain’s grocery, snacks and personal care businesses.
