LR Group released its financial results for the first quarter of 2023, revealing sales of $76.8 million, an increase from $73.2 million in the same period last year. EBITDA for the quarter was $8.43 million, compared to $8.6 million in the first quarter of last year.
Key investments during the quarter included a new packaging and palletizing machine, which the company expects will boost production capacity for health products by 30% and position the brand to meet product demand in other categories.
Planned market expansions in 2023 will include opening operations in the UK in August 2023.
“In the first quarter of 2023, many partners showed successful career development, reaping the benefits of our top sellers such as the new and improved weight management program LR LIFETAKT Body Mission,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “This year will see us continue to focus on helping partners get started through targeted qualification and bonus programs such as Fast Track 5.0. These measures have made a key contribution to a very good start we have made to the 2023 financial year.”