P.M. BRIEFING : EARNINGS : Perrier Profit Bubbles, Doubles
From Times Wire Services
PARIS —
The bottlers of bubbly Perrier water reported today that net profits more than doubled in the first half of 1990 despite a worldwide recall after traces of the chemical benzine turned up in some samples.
The profit increase came mostly from the sale of the group’s soft-drink operations, Source Perrier SA said.
First-half sales of the popular mineral water itself were down 14% from 1989 due to the recall and delays in restocking, Source Perrier said.
Consolidated net profits amounted to 856 million francs, or $167 million, up from 397 million francs a year earlier.
The latest results included a gain on the sale of its soft-drink operations as the company shifted its focus back to the green-bottled mineral water.
