US firm Rocky Mountain Chocolate Factory has warned that profits could fall over the next 12 months if the country’s economy fails to improve.
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The gloomy outlook meant the company failed to give sales and earnings forecasts for its 2009 financial year.
The caution came despite a rise in earnings for the year to the end of February. Net income rose 5% to US$5m as revenue inched up 1% to $31.9m.
However, sales and earnings dropped during Rocky’s fourth quarter and COO and CFO Bryan Merryman said the company had seen a “very difficult” retail environment during the last six months
Merryman added: “If recent economic and consumer spending trends continue but do not deteriorate further, we are likely to report a modest decline in earnings for the current fiscal year.”
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