Hain Celestial posts 57.8% rise in Q2 profit

Hain Celestial, a US-based natural and organic food products company, has reported a 57.8% increase in its net income for the second quarter of fiscal 2013 to $31.6m, compared to $20m in the same quarter last year.

The company attributed the rise in net income to a 24.8% growth in revenues for the quarter ended 31 December 2012.

Worldwide net sales for Q2 2013 were $455.3m, compared to net sales of $364.8m in the corresponding quarter of fiscal 2012, driven by contributions from various sales channels led by Celestial Seasonings, Earth’s Best, Garden of Eatin, Imagine, MaraNatha, The Greek Gods, Alba Botanica, Lima, Danival and Linda McCartney.

In addition, the company forayed into the raw juice category with the acquisition of the BluePrint brand in late December.

Hain Celestial founder, president and chief executive officer Irwin D Simon said the brands acquired during the quarter, including Hartley’s jam and Sun-Pat peanut butter, have also contributed to the company’s results.

Hain Celestial US reported a net sales growth of 8.2% to $280.4m in the second quarter of 2013 from $259.1m in the same quarter a year ago.

On a comparable basis, the segment delivered a 9.4% growth.

In the UK, the company’s net sales were $120.2m, an increase of 113%, compared to $56.4m in the second quarter of 2011.

The company’s Rest of World segment, which comprises the operations of Hain Celestial Canada and Hain Celestial Europe, posted net sales of $54.7m.

For the six months ended 31 December 2012, the US-based food company reported a rise in net income to $48m, compared to $31.7m in the same period last year.

Its revenues for the first six-month period of fiscal 2013 were $815.12m, compared to revenues of $651.67m in Q2 2012.

For full-year 2013, the company expects a total net sales range of $1.74bn to $1.75bn, an increase of 26% to 27% compared to fiscal year 2012.

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Image: Hain Celestial attributed the rise in profit to a 24.8% growth in revenues for the second quarter of fiscal 2013. Photo courtesy of PRNewsFoto / The Hain Celestial Group, Inc.