Canadian fruit juice producer Lassonde has announced a sales decline of $7.7 million in its third quarter 2017 results, as the company recorded $369.5 million, down from $377.2 million experienced during the same period last year.
The firm, which produces juices and drinks made from fruit and vegetables, saw operating profit for the third quarter of 2017 total $34.0 million, up $1.7 million from $32.3 million in the same quarter last year.
There was a noted decline in industry sales for the US fruit juice and beverage market, the company said. It is believed that some US regions were affected by a particularly difficult hurricane season, which had an impact on demand and the capacity to deliver products to those areas.
Pierre-Paul Lassonde chairman and chief executive officer at Lassonde said: “National brand sales were below projections. Nevertheless, we remain optimistic that, for 2017 as a whole, our consolidated sales will slightly exceed those of 2016 when adjusted for the foreign exchange impact.”
In the Canadian market, industry sales volumes for the third quarter of 2017 were down. Lassonde has said that it does not see any signs of this trend reversing in the last quarter of 2017. The firm has said it is seeking to limit the impact of this relative weakness in demand through national brand product innovation and continued private label customer development.
It has also observed solid progress in its Canadian sales of low-calorie products in 2017, this is something the company is said to be paying close attention to the Canadian food guide revision process and its potential impacts on the industry.
© FoodBev Media Ltd 2017