Oct. 7, 2013, Langley, B.C. — Bevo Agro sales for the year ending June
30, 2013 increased by nine per cent over the previous year.
Oct. 7, 2013, Langley, B.C. — Bevo Agro sales for the year ending June 30, 2013 increased by nine per cent over the previous year.
Sales for fiscal 2013 totaled $20,587,204, an increase of $1,689,462 over last year’s sales of $18,897,742. Sales for Q4 of 2013 compared favorably to the fourth quarter the year earlier.
The gross margin totaling $5,083,066 remained consistent with the previous year, representing 25 per cent of revenue.
Earnings before interest, taxes, depreciation and amortization showed an increase of eight per cent to $2,815,045 for the year ending June 30, 2013 as total expenses showed only a moderate increase over the previous year. Interest expenses declined because of lower borrowings.
The company continues to monitor accounts receivables and did not incur any losses for bad debts in the most recent year.
Under IFRS, the Company monitors the value of all assets and elected to expense $185,344 in deferred costs for the year ending June 30, 2013. Without this expense, earnings from operations would have showed a 104 per cent increase.
The year ending June 30, 2012 included a tax recovery of $412,428 as the company realized significant tax credits due to its Scientific Research and Experimental Development claims. No credits were realized in 2013.
Readers are encouraged to view the company’s year-end audited financial statements and accompanying MD&A at www.sedar.com.
ABOUT BEVO AGRO
Bevo Agro is a leading North American leading supplier of propagated agricultural plants, growing and distributing vegetable, flower, berry and other plant seedlings. It propagates quality seedlings and plants for wholesale vegetable greenhouse growers, field growers and nursery operators from its 39-acre production facility.
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