Friday, 30 November 2007

Planet Polishes Organic Apple With 130% Sales Growth

(TSX-V: POH)
Planet Organic rang up impressive sales growth in Q1/F08 (Sept. 30) with a 130.2% increase over the same quarter of F07.
Consolidated quarterly sales in all its divisions rose to $25.7 million, versus $11.2 million for the same quarter last year.
Gross profit in the same quarter rose to $10. 5 million, compared to $4.5 million in the same period last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 47.1%, rising to $1.4 million over last year's same quarter of $927,000. Cash flow was $749,000 compared to $609,000 and net earnings were $460,000 versus $397,000.
In its high growth phase where Planet is building new stores to add to its existing retail space or is acquiring competitors, the costs of goods sold also increased from $6.8 million in last year's first quarter to $15.48 million in this year's first quarter.
The focus is primarily about gaining market share, Planet's CFO Darren Krissie said.
To view the quarterly summary and detailed breakdown please visit http://www.sedar.com/
and follow the links to Planet Organic filings.