Fruit juice brand Lassonde Industries Inc. has had a drop in net income attributable to shareholders as it sits at $11.2 million in the second quarter, according to the company. The company has had a 5.4 per cent revenue increase and a $1.61 per share earning, which was $1.63 per share and $11.4 million last year. Revenue went from $258.55 million to $272.4 million.
The company has recently bought U.S. independent juice brand Apple & Eve for US$150 million in an effort to grow revenues. The company already sells several brands like Organics, Fruitables, Quenchers, Sesame Street and more. According to Lassonde, “sluggish” demand growth is the reason behind low sales volumes for North America.
“The 2014 second quarter results reflect a combined impact of solid performance by our U.S. subsidiary and difficult market conditions in Canada,” chairman and CEO Pierre-Paul Lassonde told Canadian Grocer.
