CANADA: Losses narrow in Q3 for Leading Brands

By | 14 January 2009

Leading Brands has posted a slowing of net loss in its third quarter, despite a slide in sales in the period.

The Canada-based soft drinks company said today (14 January) that net loss for the three months to the end of November came in at US$465,239, compared to a net loss in the corresponding period a year earlier of $1.6m. Net sales slowed, however, down to $5.4m from $7.4m.

The company blamed the 20% reduction in the value of the Canadian dollar against the US over comparative quarters, reduced sales in the US due to "a more difficult economic climate" and lesser bottled water sales in Canada for the sales dip.

Factoring in foreign exchange translation adjustment, however, Leading Brands delivered a worsening "comprehensive" loss in the quarter of $2.5m from $617,513 in Q3 2007/08.

For the nine months to the end of November, net sales slowed less dramatically, to $21.4m from $24.2m, with net loss dropping to $1.1m from a net loss of $3.3m a year earlier. "Comprehensive" loss leapt, however, to $4.4m from $998,692, thanks, again to foreign exchange translation adjustment.

Among the soft drinks in Leading Brands' portfolio are TrueBlue Blueberry Juice, Die Hard Sports Energy Drink and Caesar's Cocktails.

Sectors: Soft drinks, Water

View next/previous articles

Currently reading -

CANADA: Losses narrow in Q3 for Leading Brands

There is currently 1 comment on this article

Wink Well of course, the more you sell at a loss, the greater your loss...so they sold less at a loss and thus decreased their loss...so the next obvious step is to stop selling and further decrease the loss! Close it, the faster the better!

 

Pedro Brazofuerte said at 11:49 pm, January 14, 2009

Reply to this comment

Related articles

NZ: Suntory's Frucor to buy Simply Squeezed Holdings

Frucor Beverages, the Australasian drinks group owned by Japan's Suntory, has signed a deal to acquire New Zealand fruit drinks firm Simply Squeezed Holdings.

US: Red Bull secures Trade Commission probe

Red Bull has succeeded in its request for a probe by the US International Trade Commission into grey market imports of the energy drink into the US.

US: Pepsi Bottling agrees Rockstar deal for Mexico

The Pepsi Bottling Group has agreed a multiyear agreement to distribute Rockstar Energy Drink in Mexico.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page