Hain Celestial has booked a jump in third-quarter net income, boosted by a near 30% rise in sales during the period.
The US natural foods group said yesterday (2 May) that earnings rose to US$16.8m, or $0.38 a share, in the quarter ended 31 March, up from $2.7m, or $0.06 a share, in the comparable period of last year. Adjusted for special items, Hain earnings were $0.36 a share this year, compared to $0.26 a share last year.
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The company said that sales hit “record” levels during the period, rising 29.8% to $288.4m.
Commenting on the result, Hain president and CEO Irwin Simon said that the group booked sales gains across its portfolio in the US and overseas.
“Strong top line performance came from our Grocery and Snacks, Celestial Seasonings and Personal Care units with solid contributions from our Canadian and European units. Key brands that experienced double-digit sales growth were Earth’s Best infant and toddler products, MaraNatha nut butters, Spectrum oils, Dream non-dairy frozen desserts, Terra chips, Lima organic foods and Avalon and Alba personal care brands as well as our recently acquired brands, Sensible Portions snacks and The Greek Gods yoghurt,” he revealed.
Hain also updated its full-year sales guidance to $1.095-1.115bn and its earnings guidance to $1.30-1.34 per diluted share adjusted.
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