US whole foods producer ForeverGreen Worldwide has reported a set of consolidated annual results following the merger that created the company.
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ForeverGreen said yesterday (18 April) that, on a pro forma basis, turnover doubled during 2006.
The company said it had decided to report the revised year-end results to “better reflect the current state” of the enlarged company’s balance sheet.
The combined revenues of ForeverGreen International and Whole Living stood at US$20.8m in 2006, compared to $10.3m a year earlier. Net losses reached $1.5m due in part to costs related to the merger.
ForeverGreen CEO Ron Williams said the company will start to see the benefits of the merger over the next few months.
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By GlobalData“Since the integration of these two companies, our core focus has centered on expanding our operations, strengthening our sales and generating profitability,” Williams said. “While our losses have decreased significantly, we are certainly not satisfied. We have an aggressive plan to bolster sales and decrease costs that we believe has us on a path to profitability.”
He added that ForeverGreen has embarked on an “aggressive” international expansion into Europe, Asia and Australia.
