USA: Snapple sales rise 10%
US-based Triarc has announced its subsidiary Snapple Beverage Group is heading for an IPO and its first quarter sales show a 10% increase, fuelling a 26% EBITDA increase to US$14m.This reflects continued brand strength at Snapple, Stewart's, Royal Crown and Arbys, compared to the first quarter 1999, with total adjusted EBITDA increasing 14% to US$29.6m.Excluding unusual and non-recurring items, first quarter 2000 net income was US$2.7m compared with first quarter 1999 net loss of US$13.3m.The improvement in earnings per share (EPS) reflects the strong operating trends as well as increased investment income.Commenting on the results, Nelson Peltz, chairman and CEO of Triarc said: "Snapple and Stewart's continue to post excellent volume gains. Our beverage distribution operations posted strong results and we are optimistic about the potential for improvement at both Mistic and Royal Crown."Royal Crown's first quarter EBITDA increased 4% to US$5.4m, reflecting improving domestic and international trends as well as tight cost controls while Arby's increased 6% to US$10.2m.Growth in core products, new products and line extensions are expected to result in continued case sales growth for Snapple this year.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Craft spirits shake-out will be just the beginning
- How Treasury is rewriting the rule book - Comment
- Drinkable yogurt - The next drinks opportunity
- Coca-Cola India suspends bottling operations
- Has Diet Coke passed its sell-by date? - Comment
- Diageo brands need "fixing and nurturing" - TWE
- SAB shareholders granted AB InBev vote split
- Diageo's Guinness Rye Pale Ale - NPD
- Pernod Ricard wins Ron Matusalem 'Cuba' legal row
- Work begins on Glasgow distillery
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages