• Q1 net losses up 2% to US$3m
  • Net sales up 6% to $30.4m
  • Operating profits climb from $66,000 loss to $83,000 gain

Glacier Water Services has seen first-quarter losses widen despite an increase in sales.

Net losses were up by 2% to US$3m in the three months to 30 March, the group said yesterday (13 May). Net sales climbed 6% to $30.4m in the same period while operating income moved from a $66,000 loss to a $83,000 gain.

Last year, Glacier's first quarter covered the first three months of the year to 31 March.

The losses continue from last year when FY losses widened to $9.4m despite sales increases.

In January 2012, Glacier Water raised $20m in a share and debt sale to private investors.

To read the company's full results, click here.