Parent company of the leading nutritional supplement retailer Holland and Barrett reported strong sales in this year's first quarter. Supplement manufacturer NBTY said its net income had increased 49 per cent to $17 million for the first quarter ended 31 December 2002, up from $11 million last year.
The Holland and Barrett chain, which has stores around the UK and in Ireland, boosted sales by 14 per cent to $83 million, with same store sales increasing 13 per cent for the first quarter. The results include the positive effect of the strong British currency, said NBTY.
The retailer last year bought Dutch health foods chain De Tuinen from the food group Ahold for €16.5 million. NBTY chairman and CEO Scott Rudolph said the company was confident of growth in the future and spoke of further acquisitions to complement current operations.
Sales at US retail business Vitamin World also increased 14 per cent to $50 million from $44 million in the comparable prior period, although the operation failed to make profits during the quarter.
NBTY also owns the US-based Nature's Bounty wholesale business which also gained in sales and is driven by consumer information from the Vitamin World and the Puritan's Pride e-commerce operations.