Monster Leap In Profits For Energy Drink Manufacturer
Published on Aug 9 2012 10:47 AM in A-Brands
Monster Beverage Corporation yesterday reported a jump of 33.5 per cent in net profits to to $185.9 million for the first half of the year, with sales growth of 28 per cent to $1.05 billion.
The energy drink producer announced healthy operating profits of $296 million, a 34 per cent increase on the comparable period for the previous year. Second quarter sales were also up by 28 per cent, while net profits hit $109.8 million, a boost of 30.3 per cent. The Calafornian-based company had a strong export performance this quarter, with sales outside the US jumping 50 per cent to $153.4 million.
Selling expenses as a percentage of net sales dropped to 11.6 per cent in the second quarter from 12.9 per cent in the same period last year with distribution costs as percentage of sales staying at 4.1 per cent.
Rodney Sacks, Monster's chairman and CEO,"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... We are planning launches in additional international markets later this year and in 2013."
The company, which has strong promotional campaigns in extreme sports, hit record profits and sales figures in the first quarter of the year with net profits reaching $76.1 million, while net sales were up 27.5 per cent to $454.6 million. (9 Aug)
© 2012 - ESM: European Supermarket Magazine