US: Vermont Pure Holdings delivers strong first half
Strong sales growth has allowed Vermont Pure Holdings to deliver increases in gross profit and net income over its first half.
The company said in a statement that total sales for the first six months increased 9% to $33.8m compared to the same period a year ago. Gross profit increased 10% in the first half of 2008 to $18.9m. Meanwhile, net income increased 40% to $983,000 in the first six months of fiscal year 2008 compared to $703,000 in the first six months of fiscal year 2007.
"Our consistent top line growth has fuelled a strong increase in gross margin so far this year and, despite providing for a one time bad debt write off of a note receivable of $475,000, we have generated a meaningful increase in net income in the second quarter and first six months of the year" said Peter Baker, CEO of Vermont Pure Holdings.
"Because of our consistently improving sales, gross margin and net income in fiscal years 2007 and 2008, we are well positioned to continue to invest in our business to control our costs in the future," Baker concluded.
Vermont Pure Holdings is the largest independent and third largest Home and Office distributor of its kind in the United States.
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