Aqua Bio Technology banking on new products to drive sales growth

Posted On: August 30, 2012

Norwegian firm Aqua Bio Technology has reported a fall in revenue in the second quarter of 2012. The company posted a significant sales increase in the first quarter of the year when two major contracts boosted income to NOK11.9m. However, second quarter income was just NOK0.1m, compared with NOK0.4m in the same period of 2011.

The company, which is responsible for Aquabeautine XL, an anti-ageing skin care ingredient derived from the hatching fluid of salmon, reported sales of NOK12.1m in the first half of the year, a considerable increase compared with sales of NOK0.4m in the prior year period.

The company expects the launch of three new products in September will boost income in the second half of 2012. The products will be launched ahead of schedule – the result of accelerated product development in the second quarter. And based on the current order backlog, ABT forecasts significant sales growth in the second half of 2012 and in coming years.

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