Sunora Foods 2018 Year End Financial Results
April 30, 2019 / TheNewswire / CALGARY, ALBERTA - Sunora Foods Inc. (the “Corporation”) (TSX-V: SNF) – is pleased to announce the filing of its financial statements and management discussion and analysis for the fiscal year ending December 31, 2018. These filings are available for review on SEDAR and the Corporation’s website.
During the fiscal year ended December 31, 2018 Sunora’s highlights include the following:
-
- Revenue of $14,515,352 for the 2018 fiscal year versus revenue of $13,935,676 for the comparable 2017 fiscal year;
- International sales of $3,983,510 for the 2018 fiscal year versus international sales of $2,614,794 for the 2017 fiscal year;
- Income from operations of $379,728;
- Net Income for the period ending December 31, 2018 of $258,256 versus net income of ($121,636)
for the comparable period ending December 31, 2017;
-
- Cash and Cash Equivalents of $3,535,161 for the period ending December 31, 2018 versus $3,214,699 for the comparable period ending December 31, 2017;
- Initiation of Agricultural Commodity Relationship with a major Asian Company;
- Entry into the MCT carrier oil business;
- Appointment of Shawn Li to position of Vice-President and appointment of Janet Mernagh to position of Corporate Secretary;
- Re-purchase of 1,584,500 shares under the Corporation’s Normal Course Issuer Bid.
Financial Highlights
|
Period ending December 31, 2018 |
|
|
Sales |
$14,515,352 |
|
Gross Margin |
$917,726 |
|
Income before Taxes |
$379,728 |
|
Net Income |
$258,256 |
|
Earnings Per Share |
$0.006 |
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the “Sunora”, “Sunera” and numerous private label brands.
For further information, please contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.