Weider Nutrition's net sales rose 16.9 per cent from $57.7 million to $67.5 million for the third quarter of 2004. Operating profit almost trebled from $1.5 million to $4.3 million, in comparison to the previous year's three quarter results.
Weider, which makes both branded and private label supplements in the US, reported a net profit of $7.4 million for its nine months ended 29 February 2004, compared to a loss of $7.8 million a year earlier.
However selling and marketing expenses rose 25 per cent in the first six months of 2004, while operating profits plummeted by more than 50 per cent - dropping to $7.1 million - due to Weider's investment in the marketing and selling of the Move Free brand.
"In the third quarter, we experienced solid revenue growth, primarily attributable to strong results in our flagship Move Free brand. We are encouraged the marketing investment behind Move Free is enabling the brand to gain traction in the marketplace. We remain committed to our strategic focus on growing our brands in the dietary supplements category, which is exhibiting increased vitality," said Weider's CEO Bruce Wood.
Last year Weider divested some of its non-core businesses to concentrate on the competitive joint health sector.