SodaStream International share price fizzes up as profit rises for fourth quarter but revenue falls, thanks to unfavourable foreign exchange movements

Hayley Kirton
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Scarlett Johansson SodaStream Partnership
A more wholesome product is improving the health of SodaStream's finances (Source: Getty)

Share price in SodaStream International rose today after the company revealed a fall in revenue but a rise in profits for its fourth-quarter results.

The Israel-based company reported revenue for the quarter ended December 2015 of $112.9m (£78.6m), down 10.7 per cent compared with $126.5m for the same period in 2014, with the company blaming unfavourable foreign exchange movements as the reason behind the fall.

However, the company performed better on profits, reporting income before tax for the quarter of $3.7m, compared with a loss last year of $7m.

Sodastream also revealed its unaudited results for the year ended December 2015. Revenue for the year was $413.1m, compared with $511.8m in 2014's audited accounts, while income before tax was $15.1m, down from $16.2m the year before.

Share price in the company, which is listed on NASDAQ, rose after the results were announced, trading up 10.7 per cent at $15.55 shortly after the market opened.

In the company's results statement, chief executive Daniel Birnbaum spoke of changes the company had made recently to reposition the brand as a healthier product.

"There is still work ahead of us in order to position the company for consistent profitable growth, but I am confident that our recent actions have us heading in the right direction and will create value for shareholders over the long-term," Birnbaum added.

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