Hain income rises on expansion in the U.K.

by Staff
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MELVILLE, N.Y. — Rising sales and expansion in the United Kingdom helped income at The Hain Celestial Group, Inc. increase 58% during the second quarter.

For the quarter ended Dec. 31, 2012, the company had income of $31,622,000, equal to 69c per share on the common stock, which compared with income of $20,038,000, or 45c per share, during the same quarter of the previous year. Sales for the quarter were $455,319,000, up 25% from $364,837,000 during the same quarter of the previous year.

“I am extremely pleased with our results as Hain Celestial U.S. delivered 9.4% top-line growth on a comparable basis as well as increased profitability during the second quarter,” said Irwin Simon, president and chief executive officer. “In the U.K., Hain Daniels, with the addition of the ambient grocery brands for two months of the quarter, focused on higher margin brand growth while evaluating and establishing a program to eliminate certain unprofitable private label sales.  At the same time our businesses in Canada and Europe delivered profitable growth. As we have previously discussed, a major investment in our Fakenham facility is under way, where we are repositioning our meat-free frozen foods plant to be ready for the commencement of a long-term program with a major retailer later this year.  Brands acquired during the quarter also contributed to our results, including Hartley’s jam and Sun-Pat peanut butter, each of which are No.1 in their respective categories in the United Kingdom.”

For the six months ended Dec. 31, the company posted net income of $48,008,000, or $1.06 per share, up 51% from $31,728,000, or 72c per share, during the same period of the previous year. Sales for the quarter were $815,126,000, up 25% from $651,674,000 during the same period of the previous year.

The company also said it expects fiscal year 2013 earnings per diluted share to be in the range of $2.40 to $2.47.
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