• Q1 net profits up 50% to US$95.3m
  • Net sales up 11% to $536.1m
  • Operating profits up 39% to $148.9m
Monster opened production in Japan in Q1

Monster opened production in Japan in Q1

Monster Beverage Corp has swung back to bottom-line growth after a strong Q1 that saw sales increase.

Net profits were up 50% to US$95.3m in the three months to the end of March, the US-based energy drinks producer said late yesterday (8 May). Net sales climbed by 11% to $536.1m over the same period while operating profits jumped by 39% to $148.9m.

The rise in profits follows flat full-year profits despite increased sales, and a 2013 Q1 in which profits slid by 17%.

The company has faced a number of lawsuits and scrutiny from regulators over safety concerns and the way it markets its energy drinks. Monster argues its products are safe. 

In this year's first-quarter, legal costs continued to rise, up from $3m in last year's Q1 to $5m this year.

Rodney Sacks, Monster's CEO & chairman, said: “We are pleased to report yet another quarter of continuing sales growth, in both our domestic and international markets. We launched two new Monster Energy brand energy drinks in the quarter, Punch Monster Baller's Blend and Punch Monster Mad Dog.”

Sacks also said production in Japan started in the quarter, and the company plans to enter new international markets.

In pre-market trading today, Monster's share price is up 1.3%.

To read the company's full announcement, click here.

To read what Monster's CEO said about the results in the company's conference call, click here.