Weight Watchers takes $34m VAT charge
UK taxman takes $34.2m bite out of diet company's profits after winning a VAT battle
Weight Watchers, the world’s leading dieting company has taken a $34.2m hit
to its revenues after losing a VAT battle in the UK.
The dieting heavyweight’s third quarter results would have topped $100m
without the VAT charge.
‘Excluding charges of $34.2m associated with the recent UK VAT ruling, net
revenues were up $100.8m, or 9%, versus the prior year period,’ the company said
in a regulatory
filing.