CANADA: Arrowhead Water celebrates falling losses
Arrowhead Water has hauled back its losses in its fiscal year.
The Canadian home and office delivery company, which issued its full-year results yesterday (31 January), has seen net loss fall in the year to 30 September to C$193,084 (US$164,125) from C$838,671 a year earlier.
The improvement comes on the back of a 13% jump in sales for the 12-month period to C$8.87m from C$7.85m. Gross profit registered an increase, to C$3.34m from C$2.87m.
"Going forward, the company's focus will again be first and foremost on improving its profitability through revenue growth and cost controls," Arrowhead said.
"As a result of new products being available for sale and an expanding sales territory in Western Canada, Arrowhead is forecasting sales growth to increase substantially year over year.
"In the first quarter of 2007, Arrowhead has introduced its new 15-litre (PET compressible) product into the market place and from the initial reactions this should be a very exciting year for the company."
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