US formula-to-chocolate maker ForeverGreen posted declining profits in 2009, despite improved margins, as revenues fell due to the economic downturn.
The company said that revenues fell to US$12m in the 12-month period, with fourth-quarter sales dropping by almost a half to $2.7m. ForeverGreen booked an $0.08 per share loss for the year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, CEO Ron Williams insisted that the recession had provided ForeverGreen with the “opportunity” to increase efficiency.
“By downsizing our employee base, increasing our automation and focusing on fewer products, ForeverGreen has achieved significantly more profit per dollar revenue,” he said.
Gross Profit Margins increased to 30.5% for FY2009 compared to 24.6% in the previous year, the group revealed.
“Now that the company is trending month over month sales growth and experiencing momentum in its markets, the company looks forward to creating similar growth results in each quarter of 2010 and beyond,” Williams insisted.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataForeverGreen develops, manufactures and distributes a line of natural products to North America, Australia, Europe, Asia and South America.
