CANADA: Beverages drag down Clearly Canadian in year so far

By | 15 November 2007

Clearly Canadian has posted a marked fall in sales at its beverage division in the third quarter.

The company, which markets several water brands in Canada, the US and various other countries, said yesterday (14 November) that group sales rose by 64% in the three months to the end of September, totalling C$3.3m (US$3.4m).

Group net loss for the quarter grew, however, to C$2.4m from C$2.2m in Q3 2006.

In the first nine months of this year, sales at Clearly Canadian's beverage division plunged by 38% on the corresponding period in 2006, the company said.

Clearly Canadian said it was addressing the decline in its beverage sales through the introduction of new products, such as Natural Enhanced Waters and a 1-litre format of its core sparkling flavoured waters. "Most importantly, we have also hired INOV8 Beverage Company, led by Mike Weinstein, former CEO of Snapple, and Brian O'Byrne, former CEO of Yoo-Hoo/Orangina, to create, execute and manage a strong growth and economically feasible format for our core sparkling flavoured waters," said company CEO Brent Lokash.

In the nine-month period, total group sales rose to C$7.8m from C$6.4m, while net loss also increased, to C$10.3m from C$6.9m.

As well as beverages, Clearly Canadian also operates in the healthy food and baby food sectors.

Sectors: Soft drinks, Water

Companies: Clearly Canadian

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