TRADING UPDATE 31ST JANUARY 2018 YEAR ENDED 31ST DECEMBER 2017
- Sales £1,933k, 90% increase on 12 months to Dec 2016, gross margin maintained at 37.74%. Sales were held back by lack of manufacturing capacity through the final quarter. Some products out of stock in key markets.
- 91.3% sales exported during year up from 73% in the 12 months to Dec 2017.
- Sales growth has occurred across all existing markets as brand awareness, customer recognition and performance of NAC products become better known.
- Largest market is the USA where growth has been significant both online and direct to regional distribution.
- Online sales B2B and B2C remain dominant and a large area of growth as customers continue to switch to online purchasing. This trend we expect to continue.
- 170 NAC product variants delivered and launched into market by Dec 2017.
- NAC products were available in the UK, European Union, Australia, New Zealand, Saudi Arabia, USA, Canada and Mexico by Dec 2017.
- Business restructured to improve unit performance and structure for possible list or trade sale albeit no timescales are established on this.
- Distribution and supply chain were the key problems in 2017 as sales growth driven predominantly by online marketing and new markets outstripped manufacturing capacity.
2018 FORWARD LOOKING