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Fizz goes out of Sodastream
SHARES in Sodastream fell as much as seven per cent yesterday in spite of the firm reporting a better-than-expected 42 per cent rise in net income to $7.5m (£4.9m), as investors took fright at forecasts of slowing growth.
The Nasdaq-listed company said revenues rose 55 per cent to $132.9m in the final three months of 2012.
But Sodastream pointed to a slowing pace of growth in 2013, with revenue growth set to slide to 25 per cent, while adjusted earnings growth is expected to ease to 34 per cent.
The Israel-based group also predicted a surge in costs.