04:29 PM EDT, 03/13/2024 (MT Newswires) -- Jamieson Wellness (JWEL.TO) on Wednesday said its fourth-quarter adjusted profit rose 6.9% on higher sales.

The vitamin and supplements manufacturer said its adjusted profit, which excludes most one-time items, rose to C$28.62 million, or C$0.67 per share, in the period, from C$26.76 million, or C$0.62, in the year-prior quarter. The result lagged the consensus analyst estimate for the measure of C$0.74 per share.

Net income including items rose 10% to C$24.41 million, or C$0.56, from C$22.09 million, or C$0.52.

Revenue rose 14% to C$220.37 million from C$192.78 million as the company increases sales outside its Canadian base, expanding in the US and Chinese markets.

"We are entering 2024 from a position of strength - strategically, operationally, and financially. To harness the full potential of the evolving needs of engaged consumers and significant industry growth tailwinds, we will continue to prioritize investment in demand generation, innovation, and distribution in all our major markets, while investing aggressively to grow our brands in the U.S. and China," chief executive Mike Pilato said in a release.

The company said it expects 2024 sales of around C$740 million, up from C$676.17 million in 2023,.with adjusted earnings per share of around C$1.60, up from C$1.55 last year.

Jamieson shares closed down C$0.01 to C$29.50 on the Toronto Stock Exchange.