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Certified Organics Half Year Result On Track

Certified Organics Half Year Result On Track

Statement made by Dr Earl Stevens, Chairman, Certified Organics Limited

Certified Organics has recorded an unaudited, after tax operating loss of $899,000 for the six months ending 30 June 2003, consistent with levels signaled at its recent annual meeting.

Sales for the first half of the year of $255,000 were up 163% on the same period last year and ahead of the company’s $240,000 forecast.

The second half of the year commenced encouragingly. Sales of nearly $200,000 were recorded for the month of July, with further orders already placed by the Company’s recently-appointed New Zealand master distributor.

The progress in the local market, plus the targeted launch onto the Australian home and garden market before the end of this year will keep Certified Organics on track with its previous forecast final year result to record a deficit of approximately $1.4 million.

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