Naturex (Avignon, France)’s net income for the first nine months of fiscal 2014 fell 39% from a year earlier and sales dipped 1.7% amid a continuing adverse global economic environment exacerbated mainly by worsening market conditions for nutrition and health in the United States.
These factors were compounded by an unfavorable foreign exchange environment, the company said
Sales for the period from Jan. 1 through Sept. 30, 2014, declined 5% like-for-like (constant exchange rates and perimeter) with Svetol sales in the United States accounting for half of this decrease. However, the integration of Vegetable Juices Inc. as of June 1, 2014 limited this negative trend for sales.
Key results include:
- Disappointing results for the nutraceutical business
- Solid foundations for quality and sustainable growth
- Return to growth of food & beverage activity and repositioning of nutrition & health offerings
- Action plan addressing key operational challenges
To view the entire earnings release, click here.