Probi grows 28 percent in Q1

Probi grows 28 percent in Q1

Swedish probiotics company logs best first quarter to date.

FIRST QUARTER 2012

  • NET SALES amounted to MSEK 30.6 (23.9).
  • OPERATING PROFIT totalled MSEK 8.5 (6.8).
  • PROFIT AFTER TAX amounted to MSEK 6.4 (5.1).
  • PROFIT AFTER TAX PER SHARE was 0.71 SEK (0.55).
  • TOTAL CASH FLOW was MSEK 9.7 (-4.7).

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

  • Probi signed a distribution agreement with USV Limited of India pertaining to the launch of stomach capsules based on ProbiDigestis, Probi’s product platform for gastrointestinal health.
  • Income in Functional Food increased 6% to MSEK 16.6 (15.7).
  • Income in Consumer Healthcare increased 73% to MSEK 14.4 (8.3).

SIGNIFICANT EVENTS AFTER THE CLOSE OF THE PERIOD

  • Probi signed an agreement with H.J. Heinz of Australia for the launch of probiotic juice based on ProbiDefendum, Probi’s product platform for the immune system.

CEO’s comments
“Q1 income of slightly more than MSEK 30 represents the highest level to date in a single quarter. Our continued strong growth in Consumer Healthcare demonstrates that our strategy to focus resources on developing this market is correct. Our new agreement in the major and expanding Indian market will generate additional opportunities. Combined with this, we are focusing on strengthening our organisation to cope with continued international expansion. We are also very proud of our agreement with Heinz, entailing the launch of a completely new product category in the Australian juice market,” says Michael Oredsson, CEO of Probi.

 

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