• Full-year net profits climb by 35% to US$286.2m
  • Operating profits increase by 31.2% to $456.4m
  • Net sales grow by 30.6% to reach $1.70bn
  • Fourth quarter net profits increase by 31.4% to $64.5m
Monster Beverage Corp saw its net profits climbed by 35% in the full-year period

Monster Beverage Corp saw its net profits climbed by 35% in the full-year period

Monster Beverage Corp has recorded an increase in full-year profits and said it will continue to enter new markets worldwide.

For the 12 months to the end of December, net profits climbed by 35% to US$286.2m, the Monster Energy drinks producer reported yesterday (23 February). Operating profits increased by 31.2% on 2010, to $456.4m.

Net sales for the year grew by 30.6% to reach $1.70bn. The group narrowly missed most analysts' sales estimates, but the performance still generated a broadly positive reaction.

Stifel Nicolaus analysts said in a note: "We continue to anticipate the company will achieve sustained low double-digit sales growth over the next three-to-five years, resulting from further US share gains, innovation, and international expansion. We also continue to expect international profitability to ramp substantially in coming years." 

In the fourth quarter, Monster's net profits increased by 31.4% to $64.5m, while operating profits grew by 29.6% to $103.4m. Net sales amounted to $318.7m, an increase of 28.7% on the prior-year period.

"During the fourth quarter, we launched three new product extensions in the Monster Rehab line," said Monster Energy's chairman and CEO, Rodney Sacks. "We are continuing to expand into new international markets, with additional launches in 2012. We commenced sales of the Monster Energy brand in Poland earlier this month."

Click here to view the full earnings release.