Mannatech reports global growth
annual sales figures to date. The company - reporting a more than
three-fold increase in net profit - attributed its profitablility
to growth in international markets alongside the launch of its
first antioxidant, Ambrotose, writes Claire Johnston.
"Consolidated net sales for the year ended 2003 were $191 million, which was an increase of more than $50 million, or 35.6 per cent, as compared to 2002. This increase was the highest level in Mannatech's 10-year history and was largely attributed to gains in sales in all countries where Mannatech presently operates," said a spokesperson for Mannatech.
Japanese sales more than doubled in 2003 to €18.6 million, making the Far East Mannatech's second largest market next to America.
The United Kingdom, Australia and New Zealand also grew steadily throughout the four quarters of 2003. Sales in Britain, Mannatech's smallest market, tripled from $1.6 million in 2002 to $5 million for 2003.
The US launch of Ambrotose AO in September - the company's first antioxidant supplement - is also claimed by the company to have increased net sales. In America sales grew 21.7 per cent to $127.8 million from $105 million the previous year.
Laboratory studies and tests conducted by Mannatech demonstrated that Mannatech's MTech Blend, used in Ambrotose, far outdistanced 90 different antioxidant products on the market and tested three times more powerful than the next leading competitive product tested.
"All antioxidant products are not created equal. The capability of component parts to act together is a key piece of what sets Ambrotose apart from all the rest. Ambrotose has been designed to help counter the harmful effects of toxins, other environmental sources of stress, daily physical stress and poor diet," said Mannatech CEO Sam Caster.
Over the course of 2003 Mannatech's number of associates and members increased by 37.5 per cent to 264,000. The activities of the company's associates brought 134,000 new people to Mannatech in 2003.
"Our current achievements are testaments to the renewed passion of our associates and the dedication of our employees. We believe we have only begun to realize the great potential of our products. We look forward to growth in the future as we continue with our planned launch into South Korea in the second half of 2004 and into Taiwan in the first quarter of 2005," said Caster.
The company announced that it is to further contain operating expenses in 2004.
