Strong profit growth for Reliv
Filipino markets during April and May helped boost sales and
profits at US-based company Reliv International.
The launch of a various supplement lines in the Mexican and Filipino markets during April and May helped boost sales and profits at US-based company Reliv International.
Reliv said that net profits of $625,000 were a significant improvement on the $13,000 registered in 2001, helped by sales up 15 per cent to $15.4 million. For the first six months of the year, net profits were $1.1 million compared to losses of $133,000 in 2001. Net sales were $29.9 million compared to $27.5 million a year earlier.
Robert L. Montgomery, president and chief executive officer of Reliv, said that sales in the United States - the company's largest geographic market - grew 29 per cent compared to the second quarter of 2001, while revenue growth in international markets was 34 per cent higher.
The launch of the Reliv ReversAge dietary supplement in Mexico in April and of Reliv Now for Kids and Reliv Arthaffect in the Philippines in May contributed to the improvement in international revenues.
"Along with benefiting from continued sales growth, our second quarter results show the impact of the steps we have taken to reduce expenses. Our core business remains strong, and we fully expect it to provide a solid foundation for ongoing improvements in our earnings performance in the months ahead," Montgomery said.
Reliv manufactures and markets a range of food products, including nutritional and fibre supplements, diet management products, functional foods, sports drink mixes, a line of premium skin care products and a range of soy-based products.
