News: WestBond earns $172,905 in Q2 2018, declares dividend WestBond earns $172,905 in Q2 2018, declares dividend
2018-08-27 13:39 MT - News Release
Mr. Gennaro Magistrale reports
WESTBOND INCREASES PROFIT FOR THE QUARTER ENDED JUNE 30, 2018 AND DECLARES QUARTERLY DIVIDEND
WestBond Enterprises Corp. has posted a profit of $172,905 for the three months ended June 30, 2018. This represents a 197-per-cent increase over the profit of $58,282 for the three months ended June 30, 2017. Sales also increased 14.6 per cent to $2,864,740 this year compared with $2,498,878 for the three months ended June 30, 2017.
The increase in sales and net income is due to the company's efforts to develop new markets for its air laid products and existing clinical and personal hygiene lines. Air laid products and parent roll sales increased significantly in the food service market. WestBond intends to continue to develop these markets and increase profitability by improving production efficiencies and lowering overhead costs.
The quarterly report and other information can be found on the company's website and on SEDAR.
In recognition of the improved profit, the board of directors has declared a quarterly dividend of 0.25 cent per share payable on Sept. 20, 2018, to shareholders of record on Sept. 5, 2018, and quarterly thereafter.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.