Probi Sales Up in 1Q10Probi Sales Up in 1Q10
April 22, 2010
LUND, Sweden Probi AB released its interim financial report for January to March 2010, reporting net sales increased by 45 percent to hit SEK 15.9 million (US$2.2 million), although revenue was unchanged versions the comparable 2009 period. EBIT was SEK 3.2 million (US$441,000) for the quarter, supporting the companys forecast for EBIT and cash flow to be positive in 2010. Among key events in the quarter were preparation for the launch of Probis immune supplement in South Africa, positive clinical results from a trial on Probis probiotics in subjects with irritable bowel syndrome (IBS), and establishment of a scientific advisory board.
Michael Oredsson, CEO, commented, The 45 percent increase in EBIT in Q1 2010 demonstrates the strength of our business model. Net sales were unchanged compared to the first quarter of 2009, but it is noteworthy that proceeds from ProViva were the highest since launch in 1994. To further reinforce Probis leadership in probiotic research, we are now establishing a Scientific Advisory Board with world leading scientists who are leaders in fields relevant to probiotics.
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