Tickers: XTSX:SNF
Tags: #Food&Beverage
May 27, 2020 - TheNewswire - Calgary, Alberta - Sunora Foods Inc. (the "Corporation") (TSXV:SNF) announces the filing of its financial statements and management discussion and analysis for the fiscal period ending March 31, 2020. These filings are available for review on SEDAR and the Corporation's website. The Corporation also announces the declaration of a dividend in the amount of $0.004 per common share. This dividend will have a record date of June 30, 2020 and will be paid annually.
The declaration and payment of this annual dividend will depend on the Corporation's financial results and cash requirements and other items deemed material by the Board of Directors.
During the fiscal period ended March 31, 2020 Sunora's highlights include the following:
- Revenue of $2,546,421 for Q1 2020 versus revenue of $2,631,582 for the comparable Q1 2019 fiscal period;
- Gross Margin of $150,850 for Q1 2020 versus gross margin of $190,424 for the comparable Q1 2019 fiscal period;
- Net Income of $74,491 for Q1 2020 versus net income of $16,560 for the comparable Q1 2019 fiscal period;
- Cash and Cash Equivalents of $3,615,375 for the period ending March 31, 2020;
Financial Highlights
Period ending March 31, 2020
Sales $2,546,421
Gross Margin $150,850
Income before Taxes $120,093
Net Income $74,491
Earnings Per Share $0.002
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.
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