Yahoo Finance Komo Plant Based Foods Reports Impressive Revenue Growth with a 160% Increase in Q2
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2023) - Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOD) (FSE: 9HB) ("Komo"), a premium plant-based food company, is pleased to announce it achieved record revenues for its second financial quarter ended January 31, 2023. Komo generated revenues of $466,197 in the quarter, which is a 160% increase from the first quarter revenues of $179,467. The increase is attributed to Komo's recent growth across Canada with its retail distribution through Loblaws, Loblaws banner stores, Sobeys, Whole Foods and key natural accounts. This also represents a 181% increase from last year's Q2 report which had revenue of $166,052. Komo reported a gross profit margin of 39% in Q1 of 2023.
"We are thrilled to report such strong financial results for the second quarter of 2023. Our continued growth and success are a testament to our commitment to promoting sustainable, healthy, and ethical food choices in the rapidly growing plant-based food industry. Our team's hard work and dedication, coupled with our strategic partnerships, have helped us achieve these results, and we are excited for the future," says William White, CEO of Komo Plant Based Foods Inc.
Full details of Komo's financial position at January 31, 2023 and for the quarterly period ended January 31, 2023 will be published in late March 2023.
About Komo
Komo Plant Based Foods is a premium plant-based food company that develops, manufactures and sells a variety of plant-based frozen meals that are always hearty, satisfying and made with wholesome ingredients. Komo's mission is to help make plant-based meals a staple on every dinner table by sharing the company's love for feel-good food that connects the people to the planet. The company believes plant-based eating is the future and that "Change can start with a single bite." The company's experienced plant-based innovation and development team recreates vegan versions of traditionally cheesy and meaty classics, with 100 per cent plants. Komo's 9 products are sold direct-to-consumer through the company's e-commerce website, and a distribution network of on-line and brick and mortar grocery, convenience and natural retailer channels. The company launched in 2021 with the company's flagship products: plant-based lasagna, shepherd's pie and chickenless pot pie, and Komo Plant-Based Meal Helpers -- versatile meal starters to allow the creation of many dishes at home. Komo's newest product is Mac & Greens. All of the company's products are 100-per-cent plant-based, made with wholesome ingredients, free from preservatives and frozen for freshness. Freezing products is a natural and effective way of keeping food products for longer without having to use any preservatives. Komo's meals have an 18-month frozen shelf life. Komo's products are now available in over 840 retail locations across Canada.
Learn more at: www.komocomfortfoods.com and follow on Instagram: @komocomfortfoods
For further information, please contact:
William White, President & CEO, Komo Plant Based Foods Inc.
+1 (236) 8000‐YUM / (236) 800‐0986
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward‐Looking Statements
Certain statements contained in this press release constitute forward‐looking information. These statements relate to future events or Komo's future performance. The use of any of the words and similar expressions and statements relating to matters that are not historical facts are intended to identify forward‐looking information and are based on Komo management's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, Komo's ability to retain key personnel, its projected revenues, its projected expenses, its ability to raise capital, and its expectation as to the continued increase in the number of retailers and consumers of its products constitute forward‐looking information. Actual results and developments may differ materially from those contemplated by forward‐looking information. Readers are cautioned not to place undue reliance on forward‐looking information. The statements made in this press release are made as of the date hereof. Komo disclaims any intention or obligation to publicly update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
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