Strong third quarter sales for Bevo Agro
By Bevo Agro
By Bevo Agro
May 29, 2014, Langley, B.C. — Bevo Agro Inc. had sales of $5,126,0842
for the third quarter ending March 31, 2104, an increase of 44 per cent
compared to sales of $3,567,427 for the three months ending March 31,
May 29, 2014, Langley, B.C. — Bevo Agro Inc. had sales of $5,126,0842 for the third quarter ending March 31, 2104, an increase of 44 per cent compared to sales of $3,567,427 for the three months ending March 31, 2013.
Deliveries of propagated plants to new clients in addition to larger orders from customers contributed to the increase in sales.
Sales for the nine months ending March 31, 2014 totalled $12,482,497, compared to sales of $10,502,417 for the same nine months last year which is an increase of 19 per cent.
As a result of increased sales, the gross profit increased to $1,875,260 compared to $1,469,809 for the same three months last year.
Operating expenses for the three months were $1,243,602 (24 per cent of sales) compared to $1,150,790 (32 per cent of sales) in the same period last year.
EBITDA (Earnings before interest, taxes, depreciation and amortization) increased 33% and 39% respectively to $1,250,186 and $1,954,293 for the three-month and nine-month periods.
The company has not provided for any bad debt write offs in the second quarter, since accounts receivable are current and collectable.
Readers are encouraged to view the company’s unaudited financial statements at March 31, 2014, and accompanying MD&A at www.sedar.com.
Bevo Agro is a leading North American supplier of propagated agricultural plants, growing and distributing vegetable, flower, berry and other plant seedlings to North America's growers. Bevo propagates quality seedlings and plants for wholesale vegetable greenhouse growers, field growers, nurseries and retail outlets from its 39-acre production facility.