Extracts company Vitiva has reported a strong first quarter with 250% growth in sales and improved profitability, attributed to consistent cost reduction and strong sales.
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The company said that to support the growth of net profit, it has improved process by using new methods and procedures, as well as increasing sourcing efforts. It aims to continue growth by investing back its profits to strengthen its networking, sales team and continue developing innovativation.
Vitiva CEO Ohad Cohen said: “Vitiva is delivering strong, sustainable earnings growth. We wouldn’t have achieved these outstanding results without our excellent team management and devoted employees.
“This achievement is a result of the long-term strategy, supported by the policy of our owners, Aktiva Invest and our board of directors. In the future we will maintain the long-term financial targets, but we will focus even more on top line growth and market-expanding activities.”
