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Naturex 1H 2014 Revenue Slips 4.3% On Unfavorable Exchange Rates
Posted: August 29, 2014
Naturex’s (Avignon, France) 2014 first-half revenue fell 4.3% to €158.3 from €165.8 million a year ago due to an unfavorable foreign exchange environment. Restated to adjust for sales of its Svetol green coffee bean extract in the United States and krill toll manufacturing sales, first-half revenue was up 2.8% at constant exchange rates.
- Food & beverage boosted first-half sales due to quarterly levels that exceeded all quarters of the prior year.
- Nutrition & health was hurt by lowered revenue forecasts and the impact of destocking by certain customers in the United States.
- Personal care, the company said, remains "promising" with the execution of new projects expected in the second half.
- The company expects the foreign exchange environment to be more favorable yet "volatile" in the second half.
Click here to read the entire earnings release.