LONDON (ShareCast) - Plastic shopping trolley maker Supercart reiterated that it expects to become profitable by 2007, with its new range of products receiving a good response from customers.

“We believe it reasonable to anticipate that during the current year we will continue to reduce the level of recent losses and that we will become profitable in 2007,” said Supercart.

“We took delivery in March 2006 of the first off tool samples of our new plastic hand basket. Initial retailer acceptance levels appear to be high and we expect that this hand basket will add significantly to our product line and revenues during 2006,” added the group.

For the year to December, Supercart reported a pre-tax loss of £675,000 compared with a loss of £838,000 previously. Turnover totalled £2.42m during the period against £2.08m last time.

“We believe we now have an excellent team in North America and we have reasons to feel encouraged about our prospects there during the next 12 months. We continue to make good progress in South Africa, where 2005 revenues exceeded the preceding year by more than 25%,” added the group.

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