LUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Probi (STO:PROB)
FIRST QUARTER 2014
• NET SALES amounted to MSEK 26.4 (25.4).
• OPERATING PROFIT totalled MSEK 6.1 (6.0).
• PROFIT AFTER TAX amounted to MSEK 5.0 (4.9).
• PROFIT AFTER TAX PER SHARE was SEK 0.55 (0.54).
• CASH FLOW amounted to MSEK 3.6 (8.6).
SIGNIFICANT EVENTS DURING THE FIRST QUARTER:
• Probi signed a distribution agreement for Probi Mage® with Dongkook Pharmaceuticals, South Korea.
• Symrise increased its shareholding in Probi to 46.6%.
SIGNIFICANT EVENTS AFTER THE CLOSE OF THE PERIOD:
• Probi signed a distribution agreement with Sanofi Consumer Healthcare for the launch of Probi Digestis® in South Korea.
• New study shows that probiotics from Probi may reduce the risk of osteoporosis.
CEO’S COMMENTS:
“We continue to note very strong growth in the Consumer Healthcare business area. Net sales rose to slightly more than MSEK 16, up 24% compared with the first quarter of 2013. Our efforts to improve margins on goods sold are now generating results and, despite a higher share of product deliveries in relation to royalty revenue, we also succeeded in maintaining our total earnings level. In early 2014, we signed two new agreements concerning distribution of our digestive health product in South Korea, with launches during the second quarter of 2014. In the US, we have expanded our presence in the key Health Food channel through product launches by Solgar/NBTY and Threshold. With these launches in the US and South Korea, two important foundations are now in place for our continued international expansion. Our partnership with Symrise has also provided opportunities for looking at new food solutions, particularly in Asia, which could eventually lead to renewed growth in our other business area, Functional Food,” says Peter Nählstedt, CEO of Probi.
This information is such that Probi AB is required to disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. This information was submitted for publication on 29 April 2014 at 8:45 a.m.
This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.
ABOUT PROBI Probi AB is a Swedish publicly traded bioengineering company that develops effective and well-documented probiotics. Through its world-leading research, Probi has created a strong product portfolio in the gastrointestinal health and immune system niches. Probi’s products are available to consumers in more than 30 countries worldwide. Probi’s customers are leading food, health-product and pharmaceutical companies in the Functional Food and Consumer Healthcare segments. Probi had sales of MSEK 102 in 2013. The Probi share is listed on NASDAQ OMX Stockholm, Small-cap. Probi has about 3,500 shareholders. Read more at www.probi.se
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