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CANADA: Arrowhead turns profit to loss

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Arrowhead Water Products has posted a pre-tax loss for its first quarter.

The Canadian bottled water company said yesterday (6 March) that, while sales for the three months to 31 December rose slightly, the increase was not enough to stem losses during the quarter.

In spite of a slight lift in sales to C$1.95m (US$1.7m) from C$1.8m in the corresponding period a year earlier, the company saw a profit before tax of C$11,750 in the first quarter 2004 turn into a loss of C$152,760.

"After the significant growth, management changes and operational changes that have occurred over the past two years, management has now mandated the first and second quarters of fiscal 2006 as the time period to integrate these changes and return the company to profitability," the company said.

"Going forward, the company's focus will be to improve profitability through revenue growth and cost controls."


Sectors: Water

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