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February 11, 2008 |
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CER GROUP: Sales Revenue in 2007 Rose 31% to NZ$8.1 Million CER Group Ltd rounded off 2007 with a record final quarter, ended Dec. 31, 2007, with sales of NZ$3.9 million, up 40% on the fourth quarter of 2006. The Group's full year performance showed a considerable uplift overall with sales revenue of NZ$8.1 million, up 31% from NZ$6.2 million in 2006. The strong result for fourth quarter sales was driven by continued growth in both of the existing businesses, NZ Nature and Certified Organics. The Group's new acquisition in 2007, Australian sustainable environmental management company VRM (Vital Resource Management), delivered a highly encouraging NZ$750,000 of sales in the fourth quarter, bringing its contribution to sales for the second half of 2007 in at just over NZ$1million. Certified Organics' fourth quarter sales of NZ$400,000 were three times the level achieved in the same period in 2006. Overall, the full year sales for Certified Organics were up 15%, to NZ$1.68 million. A key contributor to this was the initial stocking orders for Certified Organics' BioWeed Control product which recently received Australian regulatory approval, enabling the product to be marketed to the Australian viticulture industry. Despite the adverse market conditions and high exchange rate affecting all New Zealand exporters, New Zealand Nature returned pleasing full year sales of NZ$5.3 million, up 13% on 2006. NZ Nature achieved overseas sales growth of 17% in the fourth quarter, driven by particularly strong demand from the UK and continental Europe. The Group expects the momentum delivered by VRM to continue in 2008. Sales are largely generated from VRM's microbially- enhanced liquid fertilisers which are being sold to the Queensland sugar and banana growing industries. These products allow growers to reduce fertiliser input quantity and cost and enhance environmental outcomes through reduced nutrient run-off into rivers and the Barrier Reef. The Group has sound strategies in place for continued, accelerated growth in 2008. The company anticipates announcing the full financial year results at the end of this month. Auckland, New Zealand-based CER Group Ltd. -- http://www.certified-organics.com/ -- formerly Certified Organics Limited, is engaged in the development, manufacture and marketing of naturally based biological control, hygiene and health products for use in agriculture, industry and domestically, both within New Zealand and for export. The company is also involved in the sale of Internet catalogue goods both within New Zealand and for export. The company's subsidiaries include New Zealand Nature Company Limited, Organic Interceptor Products Limited, Certified Organics (Aust) Pty Limited and Certified Organics Inc. The Troubled Company Reporter-Asia Pacific, citing a report from ShareChat News, said on March 5, 2007, that CER Group's December 2006 full-year loss narrowed to NZ$53,000 from NZ$327,000 in 2005. |
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