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Root Prices Hurt Imperial

December 1, 2000

1 Min Read
Root Prices Hurt Imperial


Root Prices Hurt Imperial

VANCOUVER, British Columbia--Imperial Ginseng Products Inc. reported a minuterise in revenues and improved net loss for its fiscal year ended June 30. Netsales inched up to $4.5 million (U.S.) from $4.1 million sold the previous year,while net loss improved to $1.9 million or $1.91 per share from $3.7 million or$2.45 per share lost the year prior. According to the company, revenues rose amere six percent, despite an 88-percent increase in acres harvested and a298-percent growth in root produced. The company logged a record 165 acresharvested and a record yield of 3,216 pounds per acre. Continued decreases inroot prices on the market contributed most to the restricted results. Imperialreceived about $8.10 per pound in 2000 compared to $10.69 per pound the previousyear. The company got a break from decreased interest expense and a slightdecline in general and selling costs.

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