Certified Organics today posted an improved but unaudited December-year loss of $1.34 million, from a loss of $1.53m a year earlier.
In the December 2004 year, Certified's sales were $890,000, up some 18 per cent on the year before, it said in a statement to NZX.
Certified Organics said it
had an encouraging export sales, primarily to Australia, where sales topped $500,000.
Sales across the Tasman meant Certified was "no longer solely dependant upon New Zealand for its revenue stream".
They also proved particularly important in the December 2004 year "in view of the disappointing sales result from the New Zealand retail market, where sales suffered from deficiencies in the quality of the distribution, compounded by the very poor spring and early summer weather".
Looking ahead, Certified said it was looking forward to further penetration of the retail market in Australia in 2005, together with growth in the South Australian government's programme to eradicate the noxious weed Branched Broomrape.
"Sales to this programme were worth some $300,000 to Certified Organics in 2004," it said.
"Current indications are that the extent of use of the company's products will be expanded in 2005."
In New Zealand, Certified was working with its distributor to upgrade the approach to marketing.
"This, together with the launch of product range extensions will lead to an improved sales performance in our home market in the forthcoming year."
At 10.45am, Certified's shares were trading at 7.1c each, having ranged between 6.5c and 14.7c in the past year.
- NZPA
