Komo Plant-Based Foods Announces Record Revenues in December - with 35% Profit Margin Reported Last Quarter
05 Janvier 2022 - 3:17PM
InvestorsHub NewsWire
Komo
Plant-Based Foods Announces Record Revenues in December - with 35%
Profit Margin Reported Last Quarter
Vancouver, B.C.
- January 5, 2021 -- InvestorsHub NewsWire -- Komo Plant Based
Foods Inc. (CSE: YUM)
(OTCQB:
KOMOF)
(FRA:9HB) ("Komo"), a premium plant-based food company, is
pleased to announce it achieved record revenues for product sales
in the month of December 2021. Komo's December revenues of $69,999 were 104%
higher than the previous month and 51% higher than its previous
highest revenue month, which was October 2021. Komo's gross profit
margin for its three month interim period ended October 31, 2021
was 35%.
The increase in December revenues
was mainly due to an increase in wholesale orders as Komo expands
distribution to retail grocery chains. The December revenues also included revenues
from the launch of Komo Eats hot meals through Uber Eats and Skip
the Dishes.
Komo has experienced hyper growth
since launching its brand on March 5th, 2021. Since that date, Komo
introduced frozen, plant-based lasagnas, chickenless pot pies,
bolognese sauces, taco fillings and shepherd's pies through
eCommerce, at Farmers markets and its retail distribution network.
Komo has also developed a line of vegan Mac & Cheeze, Jackfruit
Chick'n and vegan wrap as hot entrees through meal delivery apps.
These avenues are aligned with Komo's mission to make plant-based
meals a staple at every dinner table. For full details on Komo's
growth in revenues see it's reported financial results for the year
ended July 31, 2021 and for the 3 month period ended October 31,
2021 please go to the issuer profile for "Komo Plant Based Foods
Inc." at SEDAR.com.
"Our significant increase in
revenues in December was a surprise since we experienced many
delays in distributing our products outside of British Columbia due
to weather conditions and widespread labour shortages," says Komo
CEO William White. "We are very excited about our continued revenue
growth as we expand throughout Canada and the United
States.
We know our products are well
received by consumers as we continue to receive five star consumer
reviews through our eCommerce platform and we are receiving
consistent repeat orders in both wholesale and direct to consumer
sales."
Komo follows a two tier approach
for its product launches. All products are first launched locally
through Komo's direct-to-consumer eCommerce platform in Metro
Vancouver.
Komo uses the consumer feedback
to improve the product until it is ready for larger scale
production through a co-manufacturing facility, and then gets
distributed to retail stores through multiple distributors.
Recently, Komo launched 11 new ready-to-eat meals through meal
delivery apps and a ghost kitchen in Vancouver, British Columbia,
allowing Komo another avenue for product development and customer
feedback.
About
Komo
Komo Plant Based Foods Inc. 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. At Komo, our
mission is to help make plant-based meals a staple on every dinner
table by sharing our love for feel-good food that connects the
people to the planet. We believe plant-based eating is the future
and - Change can start with a single biteTM.
Our experienced plant-based innovation and development team
recreates vegan versions of traditionally cheesy and meaty
classics, with 100% plants. Komo's products are sold
direct-to-consumer through our eCommerce website and a distribution
network of online and brick and mortar grocery, convenience and
natural retailer channels. Our operating subsidiary Komo Comfort
Foods launched in 2021 with our flagship products: plant-based
Lasagna, Shepherd's Pie and Chickenless Pot Pie and has recently
launched a new line - Komo Plant-Based Meal
HelpersTM
- versatile meal starters to
allow the creation of many dishes at home. All of our products are 100%
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. Our meals have a 1-year frozen shelf life. We
also sell hot ready-to-eat meals in Metro Vancouver through Uber
Eats and Skip the Dishes.
Learn more at: www.komocomfortfoods.com
and follow on Instagram:
@komocomfortfoods
and @komoeats
For further information, please
contact:
William White, President &
CEO, Komo Plant Based Foods Inc.
will@komoeats.com
1-866-969-0882
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
"could", "expect", "believe", "will", "projected", "estimated" 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'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 product
development plans, its ability to launch new products, its ability
to retain key personnel, its revenues, and its ability to export
its products to retail stores across Canada and throughout the
United States 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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