US: Monster Beverage sees surge in H1 profits
- H1 net profits leap by 33.5% to US$185.9m
- Net sales in six months to end of June up by 28% to $1.05bn
- Operating profits rise by 34% to $296m
- Launches into more export markets planned later this year and in 2013
Monster Beverage reported a healthy set of first-half numbers
Monster Beverage Corp has reported a healthy rise in first-half profits as its energy brand continues to show "positive growth" in the US and Europe.
Net profits in the six months to the end of June leapt by 33.5% to US$185.9m, the California-based group announced yesterday (8 August). Sales were up by 28% to $1.05bn, while operating profits were healthy, rising by 34% on the previous year to $296m.
Monster's Q2 performance was also solid. Net profits were up by 30.3% to $109.8m, while sales rose by 28% to $592.6m in the three months to the end of June. The group's exports markets helped drive its performance with sales outside the US rising by 50% to $153.4m in the quarter. This comes off the back of record Q1 profits.
Rodney Sacks, Monster's chairman & CEO, said its energy brand is continuing to "experience positive growth" and is expanding faster than the rest of the category in the US and Europe.
On the group's global reach, Sacks added: "We are continuing to expand into new international markets with retail sales of Monster Energy commencing in Ecuador, Hong Kong, Japan, Macau and Slovenia in the second quarter."
Looking ahead, he said: "We are planning launches in additional international markets later this year and in 2013."
Shares in Monster finished the day at $67.77, a fall of 1.58%. However in after-hours trading its price fell by 19% to $55.38 per share at one stage, as its earnings missed analysts' estimates.
For the company's official statement, click here.
For Monster's Q1 numbers, click here.
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