The probiotics developer saw sales rise 7.6 per cent to SK12 million.The operating result was a negative SK5.3 million, up slightly on last year's same period, thanks to a 5 per cent improvement in gross profit and reduced selling expenses.
However, losses grew to SK4.8 million, worsening from the previous year's SK2.1 million drop into the red in the first quarter, although the company noted that the previous year's figure had seen a reversal of guarantee provisions swell the result.
The company has also paid out a SK2 million loan to the partly owned TwoPac, which is developing equipment to manufacture new LifeTop products.
BioGaia adds value to its probiotic bacteria Lactobacillus reuteri by supplying it in novel delivery systems such as straws, and more recently the LifeTop Cap. Last month it announced it had completed a distribution agreement with a French beverage firm giving it the right to use the patented screw cap, which releases bacteria into the drink upon opening, for products to launch this autumn.
