CANADA: Arrowhead continues trimming losses in Q1
Arrowhead Water has continued to eat into its losses in its first quarter.
The Canadian home and office delivery company announced late last week that the net loss for the first three months of its fiscal year came in at C$44,867 (US$38,035), compared to C$152,760 in the corresponding period a year earlier.
Sales for the three months to 31 December were up slightly to C$2.15m from C$1.95m.
"The water industry continues to provide many opportunities for growth and advancement," the company said. "Arrowhead has embarked upon a number of new initiatives that will drive the company as an innovator and leader in the water business in Western Canada."
Earlier this year, Arrowhead posted full-year results to 30 September showing losses being trimmed to C$193,084 compared to C$838,671 a year earlier. The company forecast at the time that sales growth going forward would increase "substantially" year-on-year.
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