Prestige Consumer Opens Its FY2023 With Revenue Thirst Quenched By Hydralyte International Sales
Hydralyte line has 90% share in Australia’s hydration market and accounted for a large share of firm’s overall sales growth in its latest quarter as 28.9% international sales growth to $34.5m offset flat North American results at $242.4m.
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Around half its reported 4.7% growth to $289.3 million in latest came from price increases. Impact on supply chain continues from problems caused by novel coronavirus pandemic.
Rather than reflecting what’s coming in the way of spinoffs, leadership, product approvals or deal closings, firms’ July-September results will reveal influences from inflation and supply chain problems. Like manufacturers across industries, US consumer health product firms are dealing with US currency strengthening and potentially driving down revenues through losses in foreign exchange.
After a company-record FY2022, Prestige CEO Ron Lombardi says future inflationary pressures and supply chain issues should be “manageable.”