Probi first quarter sales more than double

29 Apr 2015

Swedish probiotics manufacturer Probi saw first quarter sales rise to SEK68.9 million, up from SEK26.4 million in the year-ago quarter. Operating profit jumped to SEK27.3 million from SEK6.1 million. Highlights of the quarter included a record SEK17 million order from NBTY; entry into a long-term research collaboration with Wageningen University in the Netherlands; expansion of […]

Probi first quarter sales more than double

http://www.dreamstime.com/stock-photo-swedish-flag-image304560Swedish probiotics manufacturer Probi saw first quarter sales rise to SEK68.9 million, up from SEK26.4 million in the year-ago quarter. Operating profit jumped to SEK27.3 million from SEK6.1 million.

Highlights of the quarter included a record SEK17 million order from NBTY; entry into a long-term research collaboration with Wageningen University in the Netherlands; expansion of the partnership agreement with DKSH to include launches of Probi Digestis in Hong Kong and Macau; and the signing of a distribution agreement with Jamieson for the launch of Probi Digestis in Canada.

“2015 started on a high note for Probi,” said Peter Nählstedt, Probi CEO. “Our net sales of MSEK 68.9 (26.4) are more than double the figure for the first quarter of 2014. This strong growth is very much attributable to stock accumulations by our US partners Pharmavite and NBTY prior to future launches later this year. At present, we do not expect net sales in the forthcoming quarters to reach the same level as in the first quarter. However, in line with previous guidance, we are still expecting strong year-on-year growth for 2015. In the second quarter, the organisation will be strengthened with seven new employees to create opportunities for capitalising on the sharply increased demand for our products. We are also very pleased to have entered into long-term research collaboration with Professor Michiel Kleerebezem, Wageningen University, the Netherlands, a leader in research into the mechanisms of action of probiotic bacteria. We hope that this collaboration will eventually result in new effective probiotic products,”