CHAIRPERSON’S REPORT CHAIRMAN’S REPORT
It is my privilege to provide the first Chairman’s Report in the company’s first Annual Report. 2020–2021 was a challenging year for all of our communities as we navigated a COVID affected world. Our year was characterised
by mounting uncertainties regarding our own health and the health of our families, customers and staff; government decisions regarding lockdowns, border closures and vaccination plans; supply chain issues
“The Board and management team have worked very hard to improve the financial performance of the Company over the past three years, and the 2021 end of year results are a testament to that focus.” Trish Ridsdale, Chairman.
regarding product access and distribution bottle- necks; and, for many of us, the requirement to run the company remotely. Despite these challenges, Go Vita Group Ltd continued to reliably deliver products and services to you, its customers, and deliver a reassuring company performance for you, its shareholders. I will report on the issues affecting you as shareholders of Go Vita and leave it to Clinton Hayes to report on the issues affecting you as customers. Overall Company Performance The Board and management team have worked very hard to improve the financial performance of the Company over the past three years, and the 2021 end of year results are a testament to that focus. The Company produced a net profit before tax and rebates of $1,042,661. Member rebates of $198,587 were paid and $630,991 earnings retained on the balance sheet. As a result of paying down debt and reducing expenses, the company has strong liquidity, good borrowing capacity and the ability to respond to
I GO VITA GROUP LIMITED ANNUAL REPORT 2020-2021 14
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