US: National Beverage reports sales lift for full year
National Beverage has said its full year net sales for fiscal 2007 increased 4.3% to US$539m, compared to fiscal 2006, led by higher sales of Rip It and higher volumes of its energy drinks, juices and waters, which were up 12%.
In its annual report, the soft drinks group said a volume improvement in higher margin products along with the effect of price increases, instituted to recover raw material cost increases, resulted in a 9% improvement in unit pricing. This increase was partially offset by a 7% decrease in carbonated soft drink volume, due primarily to a 21% volume decline in allied brands.
Gross profit approximated 32.1% of net sales for fiscal 2007.
The cost of goods sold per unit increased approximately 7%, primarily due to higher manufacturing and raw material costs.
Selling, general and administrative expenses were $137.2m or 25.5% of net sales for fiscal 2007 compared to $135.1 million or 26.1% of net sales for last year.
"The $2.1 million increase is due to higher marketing costs primarily related to new product introductions associated with energy drinks and increased cooperative advertising," the comany said.
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