March 4, 2016, Langley, B.C. — Bevo Agro Inc. achieved record operating and financial results for the second quarter and for the six months ending December 31, 2015.
Second Quarter Highlights (versus Q2 last year)
• Record Q2 sales of $6,776,711, an increase of 5.5 per cent over sales of $6,422,391 in Q2 last year.
• Net earnings of $364,948 in the second quarter.
• EBITDA totaling $1,136,051, a 77 per cent increase over EBITDA of $642,742 last year.
Year-To-Date Highlights (versus the first six months of last year)
• Record sales $11,288,378, an increase of 8.8 per cent over the same six month period last year.
• Net earnings of $241,479 for the six-month period, versus a loss last year.
• EBITDA totaling $1,604,574, a 66.5 per cent increase over last year.
Sales for both the three-month (Q2) and six-month periods represent all-time record highs for the company during these respective periods.
The gross profit for the three months ending Dec.31, 2015 was $1,709,775 compared to $1,295,981 in the same quarter the previous year. The gross profit of $2,820,345 for the first six months was a 31 per cent increase over $2,151,744 last year.
Expenses for the six months were $2,494,026 (22 per cent of sales) compared $2,474,360 (24 per cent) for the same six months last year.
The net profit for the six months ended Dec. 31, 2015 was $241,479 versus a loss of $188,455 for the same period last year.
Readers are encouraged to view the company’s unaudited financial statements as at Dec.31, 2015, and accompanying MD&A at www.sedar.com.
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