Feb. 26, 2013, Langley, B.C. — Bevo Agro Inc. reported sales of
$4,852,107 for the second quarter ending Dec. 31, 2012, an increase of
14.65 per cent compared to sales of $4,231,964 for the quarter ending
Dec. 31, 2011.
Feb. 26, 2013, Langley, B.C. — Bevo Agro Inc. reported sales of $4,852,107 for the second quarter ending Dec. 31, 2012, an increase of 14.65 per cent compared to sales of $4,231,964 for the quarter ending Dec. 31, 2011.
Sales for the six months ending Dec. 31, 2012 totalled $6,934,990, compared to sales of $5,932,789 for the year earlier, an increase of over $1 million, or 17 per cent.
The gross profit for the six months ending Dec. 31, 2012 totals $1,547,793 compared to $1,487,827 for the six months in the previous year; however the margin percentage declined to 22 per cent versus the margin of 25 per cent for the same period in the prior year.
The margin decline was caused by higher delivery costs, as well as increased wage costs related to an increase in the provincial minimum wage.
The net loss for the six months ended Dec. 31, 2012 was $507,934 compared to the loss of $477,328 last year. It should be noted that the company's business is somewhat cyclical with the majority of sales and profits occurring in the second half of the fiscal year.
Readers are encouraged to view Bevo’s unaudited financial statements at Dec. 31, 2012, and accompanying MD&A at www.sedar.com.
Bevo Agro is one of North America's leading suppliers of propagated agricultural plants, growing and distributing vegetable, flower, berry and other plant seedlings to North America's growers. Bevo propagates seedlings and plants for wholesale vegetable greenhouse growers, field growers and nursery operators from its 39-acre production facility.
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