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Monster Beverage Corporation has posted record quarterly net sales in its second-quarter results, as the company’s sales in the quarter exceeded $1 billion for the first time.
Overall net sales increased 12% to $1.02 billion compared to the $907.1 million figure recorded in the same period last year, as the company increased soft drink sales in both the US and internationally.
The company’s core soft drinks segment – which includes the company’s Monster Energy, Relentless and Mutant Super Soda drinks – accounted for $929 million of this total, and this figure was a 14% rise compared to last year’s performance.
Net sales outside of the US grew 18.5% to $293.8 million, as the company introduced its Monster Energy drink to new markets such as India, Uruguay and Belarus in the quarter.
The company’s second-quarter net income increased 21.3% to $270.1 million while the company’s operating income increased 2.1% to $357.6 million.
Rodney C. Sacks, Chairman and CEO said: “We are pleased to report record quarterly net sales of more than $1.0 billion, a first in our Company’s history.
“We continue to progress our strategic alignment with the Coca-Cola system bottlers. We have reached agreements to transition Monster Energy to Coca-Cola bottlers in Arkansas.
“In the second quarter of 2018, we transitioned parts of Arkansas and are planning on transitioning the remainder of Arkansas in the third quarter of 2018.
“In the second quarter of 2018, we successfully launched our Monster Energy brand with the Coca-Cola bottlers in Belarus, Tanzania and Uruguay and commenced the relaunch of Monster Energy with a Coca-Cola bottler in select cities in India.
“We launched Monster Energy in Ecuador in July 2018 and are planning further international launches later this year,”
© FoodBev Media Ltd 2019