Beyond Meat has reported financial results for its fourth quarter and full year ended December 31, 2019. Net revenues were $98.5 million, an increase of 212%, compared to net revenues of $31.5 million in the year-ago period. The forecast for the full year of 2020 is net revenues in the range of $490 million to $510 million.
Vitasoy Recovers From Last Year’s Losses to Record HK$104M Profit
Hong Kong-based plant milk brand Vitasoy has published positive results for the financial year 2022/2023, after turning around previous losses. The company recorded a profit from operations of HK$104 million for the year ending in March, compared to a loss of HK$213 million in FY 2021/2022. This was achieved in spite of the increased cost of energy and raw materials, mainly due to cost rationalizations in mainland China and an increase in government subsidies in Hong Kong. Results by region Vitasoy continues to lead the Chinese soymilk market, and registered an operating profit of RMB40 million this year versus a loss of RMB280 million in FY2021/2022. However, revenue dropped slightly by 2%. The company’s Australia and New Zealand operation saw a 3% revenue increase, with …
