Sun-Rype's profit grows
Fruit juice maker Sun-Rype Products Ltd (TSX:SRF) is showing more signs of bouncing back after a tough year in 2011.
It is reporting a profit of half a million dollars for its 2012 third quarter.
That's a turn around from a $3-million dollar loss in the third quarter of 2011.
Sun-Rype says sales were $39.3 million for the quarter, the same as what it generated in the same period a year ago.
Sun-Rype says so far this year its net income stands at $2.0 million, compared with a net loss of $4.0 million at this time in 2011.
The Company's net sales in the first three quarters of 2012 were $116.4 million compared to $110.8 million in the first three quarters of 2011.
"The increase in Sun-Rype's net sales in the first three quarters of 2012 is primarily due to a 2011 business acquisition, and the impact of a one week longer reporting period," said President & CEO Dave McAnerney, in a news release issued Thursday.
Sun-Rype cautions that despite the turnaround in financial fortunes, it faces continuing challenges such as sales of shelf-stable juices that are in decline.
Read more Kelowna News
- Few issues, lots of fun at COGKelowna
- Lightning strikes 14 in LAWorld
- Conservatives elect Penticton manPenticton / S. Okanagan
- Crash at Kelowna racetrackKelowna
Kelowna Discussion Forum
Kelowna's Cultural District
Kelowna Road Closures
William R. Bennett Bridge
Tourism Kelowna Central Okanagan
District of Peachland
District of Lake Country
School District 23
Okanagan Regional Library