Eco friendly fibres produce results for Naturally Advanced Technologies

31/03/2006

It appears that the consumer trend for environmentally friendly apparel is becoming ever-more popular as producer of sustainable, environmentally-friendly fibres and fabrics Naturally Advanced Technologies Inc., (formerly Hemptown Clothing) has reported a 19% increase in sales for the fourth quarter ended December 31, 2005.

Sales for the fourth quarter reached $151,982, up 19% compared with the $127,637 reported in the comparable period a year ago. Net loss for the quarter ended December 31, 2005 was $406,387 compared with a net loss of $417,940 for the quarter ended December 31, 2004.

Sales for the full year were $958,238, up 15% compared with the $831,545 reported for 2004. Net loss for the full year 2005 was $876,758, compared with $897,054 for the full year 2004.

"Overall sales increased in 2005; however, our aspirations for our company and the proliferation of sustainable fibres are much greater. Therefore, we have taken steps to increase growth through sales of our clothing line HT Naturals and development and commercialisation of proprietary technology owned by our Crailar Fiber Technologies subsidiary," stated Jerry Kroll, CEO.

The company is currently in the process of developing and patenting Crailara biotech enzyme fibre processin collaboration with Canada's National Research Council and Alberta Research Council.