SunOpta sees 2007 sales topping $800 million

by Eric Schroeder
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TORONTO — SunOpta Inc. on Thursday said fiscal 2007 sales should top $800 million, exceeding previous expectations of $775 million to $800 million, led by strong demand for its core natural and organic foods business. Earnings for the year were expected to be in the range of 12c to 14c per share.

Difficulties in the SunOpta Fruit and SunOpta BioProcess Groups were more than offset by strong results in the company’s other core food group operations: SunOpta Grains and Foods Group, SunOpta Ingredients Group, SunOpta Distribution Group, and global sourcing operations within the SunOpta Fruit Group.

The company said inventories within its Fruit Group’s berry operations will require a write-down of between $9 million and $11 million. With this in mind, the company said it will wait before providing 2008 revenue and earnings guidance.

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