CANADA: Clearly Canadian sales down 18% in Q2
Clearly Canadian Beverage Corporation has reported sales of C$2.56m (US$2.13m) for the second quarter of 2005, down by 18% from last year.
The company attributed the decline to reduced marketing activity resulting from working capital constraints which it said it was attempting to address.
Cost of sales and gross margins for the quarter were relatively stable, at 69% and 31% respectively, against 70% and 30% respectively in the second quarter of 2004.
However, losses were significantly increased. Clearly Canadian recorded a loss for the second quarter of 2005 of C$1.68m, against C$0.79m in the first quarter of 2004.
For the first half, sales fell by 29% to C$4.29m from C$6.07m in the first six months of 2004. The loss for the first half of 2005 was put at C$2.56m, against a loss of C$1.29m for the first six months of 2004.
Sectors: Soft drinks
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