Ceapro sales slip 16% in second quarter
Strong personal care sales counterbalanced by low demand from other industries
Canadian active ingredients company Ceapro Inc has reported a 16% drop in sales for the three-month period ended June 2010, despite volume sales of personal care actives increasing 6%. Sales amounted to $1m, as compared to $1.2m in the same period of 2009 a decrease that Ceapro attributed to the absence of sales to the animal health sector and a lower US dollar exchange rate versus the Canadian dollar.
Sales of active ingredients to the personal care industry grew following increased shipments of Ceapro’s recently launched lupin peptides for use in a new hair care line.
Net income meanwhile came to $237,000, as compared to $466,000 in the prior year period.
The three months ended June 2010 saw Ceapro complete a license and distribution agreement with Oat Cosmetics for the sale of Ceapro’s natural active ingredients in the UK. The company also announced a research collaboration with the National Research Council of Canada.
