US: International growth boosts Reed's FY sales
Reed's has recorded a 96% increase in full-year sales
Reed's has recorded a 96% increase in full-year sales for 2010, driven by a "strong" international performance.
For the 12-month period, Reed's produced sales of US$20m. The figure, revealed today (1 February), exceeds Reed's previous guidance of 30% sales growth.
The US soft drinks producer said that "strong international sales ... helped to drive record top line growth".
"While the US is such a big playground for Reed's and represents the lion's share of our business, we also have distribution in many countries around the world," said Chris Reed, Reed's founder, chairman and CEO. "In 2010, strong international sales of our brands helped to drive record top line growth.
Reed's beverages are also sold in Canada and Mexico, as well as Europe, the Middle East, Africa, Japan and Singapore.
Last week, Reed's announced it will raise $0.75m via a private share placement.
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