SodaStream kitchen appliance
Photo: Dudu Azulay
SodaStream posts strong Q3 profit
Israeli company's profit jumps nearly four times, driven by strong soda-maker sales
Israel's
SodaStream International Ltd's third-quarter profit jumped nearly four times, driven by strong soda-maker sales.
SodaStream, which sells products that allow customers to add carbonation and flavoring to tap water, reported a third-quarter income of €7.8 million (about $10.7 million), or €37 euro cents a share, up from €2.1 million ($2.9 million), or €16 cents a share, a year ago.
Revenue rose to €58.3 million ($80 million) from €42 million ($58 million) for the company, which competes with PepsiCo Inc and Coca Cola in the global fizzy drinks market.
In an interview to Reuters in October, SodaStream had said it's sizing up kitchen appliance distributors in India as it looks to enter Asia's No. 3 economy – an about-turn from about six months ago when it shied away from emerging markets due to poor quality tap water.
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