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Excellent Sales Results From New Subsidiary
18 January 2005
Excellent Sales Results From New Subsidiary
Statement made by David Warrick, Managing Director, Certified Organics Limited
NZX-listed Certified Organics has released its first update on sales and progress for its subsidiary New Zealand Nature Company (New Zealand Nature), following its acquisition in August 2005.
Sales revenue at Nelson-based New Zealand Nature is ahead of expectations, exceeding $2.4 million for the first four months of its ownership by Certified Organics, which included a record December.
Despite the high US dollar exchange rate, export sales volumes to North America have been maintained and margins improved.
Certified Organics has appointed a general manager at New Zealand Nature as part of its succession plan from the previous owner/founder. The business and integration process is proceeding well, including planning for the forthcoming year and new opportunities.
Full year preliminary results for Certified Organics are expected to be released on February 24th.
ENDS
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