Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: dittyesq Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 21  
Subject: From Reuters Date: 6/11/2002 1:47 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Tuesday, Jun. 11, 2002. Page 6

WBD Ups Profit 49% to $31.8M

Reuters Juice and dairy producer Wimm-Bill-Dann said Monday that its net profit rose 48.6 percent in 2001, falling short of market expectations.

In its first earnings release since a February initial public offering, the company said its net profit climbed to $31.8 million from $21.4 million the previous year.

"Investors were expecting a little more on both the full-year figures and the first quarter of 2002," said Vladimir Savov of Brunswick UBS Warburg. "On the other hand, the company's strategy is still strong and sound. We should not view the results as a sign of a problem."

Analysts' expectations ranged from $39 million to $46.7 million, according to a Reuters survey.

"One of the negative factors is the growth in the prices of concentrates," chief executive Sergei Plastinin told reporters. "A positive factor is the speedy development of agriculture, including milk production. The price of unpasteurized milk is going down, which gives us the opportunity to increase our margins."

Full-year sales, which came in at $674.9 million in 2001 versus $465.41 million in 2000, were also below expectations in the range of $684 million to $687.9 million.

Financial director Svetlana Ardentova said Wimm-Bill-Dann expected to see sales growth of at least 25 percent in 2002.

"Organic sales growth will be no less than 25 percent in 2002. It is hard to forecast what non-organic growth will be," Ardentova said.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Ringing the NASDAQ Bell
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement