Canada based SunOpta Inc., leading global company for natural, organic and specialty foods and natural health products, announced sales rose 25.3 percent for the quarter ended October 1, 2011. The firm reported quarterly revenues of $272.4 million versus $217.5 million for the same quarter last year. Sales revenues increased 14.6% excluding the impact of the acquisitions completed during 2010 and 2011. Steve Bromley, President and CEO of SunOpta, said that results for the third quarter reflect continued growth in the core natural and organic foods categories.
“Our results also reflect the impact of the difficult commodity environment over the course of this year, especially in the sunflower component of our business. We are focused on expanding our business in fast growing healthy foods categories while at the same time improving operating margins and returns on assets employed. We believe we are well positioned in the natural and organic foods sector and are confident in our future prospects."
SunOpta said the results were driven by continued strong performance in the International Foods Group offset by reduced earnings in the Grains and Foods Group due to commodity market pressures in the sunflower segment, reduced earnings in the Ingredients Group due in part to the loss of a major customer earlier in the year, and reduced earnings at Opta Minerals due mainly to the impact of foreign exchange losses.
The Company realized revenues of $823.6 million for the three quarters ended October 1, 2011, versus revenues of $667.7 million for the three quarters ended October 2, 2010, a year over year increase of 23.3%. SunOpta Inc. specializes in sourcing, processing and packaging of natural and organic food products, integrated from seed through packaged products; with a focus on strategically significant vertically integrated business models.