ISRAEL: Sodastream sees H1 sales and profits jump
- First-half net profits rise 28% to US$24.9m
- Net sales in six months to end of June up 31% to $250m
- Operating profits rise 33.3% to $28.3m
- Q2 sales up 28.5% to $132.4m
Sodastream reported a strong first-half today
Sodastream International has reported a marked rise in half-year profits after a strong Q2 sales performance.
The Israel-headquartered group said that net profits in the six months to the end of June rose by 28% to US$24.9m. Net sales in the period were up by 31% to $250m, while operating profits increased by 33.3% to $28.3m.
In Q2, net profits rose by 36.1% to $12.9m, while sales jumped 29% to $132.4m. Operating profits in the three months were up by 47.6% to $18m.
Daniel Birnbaum, SodaStream's CEO said: “Our business performed very well during the second quarter, with revenue up 29% year-over-year on top of very strong gains a year ago that were fueled by the launch at Wal-Mart.”
He added: “Our strong momentum in the Americas and Western Europe, combined with improving trends in Asia-Pacific, position us well to achieve our upwardly revised outlook for 2013."
The company said it expects full-year net profits to rise around 30% above 2012's profits of $50m.
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