KELOWNA, B.C. – Rising commodity prices have taken a bite out of juice-maker Sun-Rype’s (TSX:SRF) bottom line.
The Kelowna, B.C.-based beverage company is reporting a second quarter loss of $1.4 million or $0.13 per share.
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That compares with a profit of $1.6 million or $0.15 per share in the second quarter of 2010.
Sun-Rype says its net sales for the quarter ended June 25 were $35.9 million, $3.8 million or 12 per cent higher than the same period in 2010.
But president and CEO Dave McAnerney says that was partly offset by higher commodity prices, including apples and fruit concentrates.
Sun-Rype says it plans to try to mitigate the effect of commodity price increases by adjusting selling prices on selected products.
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