US: Jones Soda posts soaring 2006 profits
Jones Soda Co. has seen annual earnings double last year on the back of rising sales of its soda and energy drink brands.
The Seattle-based company yesterday (8 March) posted operating income of US$4.6m for 2006, up 111% from US$1.3m a year earlier. Revenues rose 16.5% to US$39m.
President and CEO Peter van Stolk said he is looking to further grow the business in 2007. Van Stolk said Jones Soda's national distribution agreement with National Beverage Corp. had "set the stage" for the year ahead.
He said: "Over the past 12 months we have strengthened our foundation, increased our brand equity, and further evolved our strategy, as we continue our transformation from a small player in a niche market into the premium name in the beverage industry.
"We move forward with a powerful portfolio of branded products that we believe will allow us to deliver long-term growth and profitability and increased shareholder value."
National Beverage Corp. has reported that rises in raw material costs and discontinued lines affected Q1 results....
The American Beverage Association has declared that it spent almost US$200,000 lobbying the federal government in the US in the first half of this year....
Thai Beverage has posted a drop in Q2 net profit due to recent marketing expenses, but has secured a bank loan to cover costs for the year....
Boo Koo Beverages has merged with Captech Financial Group and also reported recent shifts in management....
The drinks industry has come under attack in the US for supposedly using energy drinks to mask the effect of alcohol....
Thai Beverage is reportedly in the hunt for an energy drink company in Thailand....
AG Barr has signed a three-year deal with The Scottish Football League, making its Irn-Bru brand the official sponsor....
National Beverage Corp. has won its recent appeal in a lawsuit against Hansen Beverage Co. over the packaging for its energy drink....
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