New to SNFI picked up some shares today. This is a stock I can hold long term and with some patience I am thinking I will do alright. It's not a get rich stock but an investment. The world will always need food. The Asian market is expanding rapidly.
Sunora Foods announces First Quarter Financial Results May 30, 2017 – CALGARY, ALBERTA. Sunora Foods Inc. (the “Corporation”) (TSX-V: SNF) – is pleased to announce the filing of its financial statements and management discussion and analysis for the period ending March 31, 2017. These filings are available for review on SEDAR and the Corporation’s website. During the fiscal year ended March 31, 2017 Sunora’s highlights include the following:
• Revenue of $3,480,230 for Q1 2017 versus revenue of $2,687,379 for the comparable Q1 2016, an increase of 29.5%;
• International sales of $526,157 for in Q1 2017 versus international sales of $284,251 for the comparable Q1 2016, due to increased distribution and increased demand for healthy foods in Asia;
•Net Income for the period ending March 31, 2017 of $66,560 versus net income of $24,971 for the comparable period ending March 31, 2016, an increase of 167%;
• Cash and Cash Equivalents of $3,133,920 and working capital of $3,942,885 at the end of Q1 2017.
Financial Highlights Period ending March 31, 2017 Sales $3,480,230 Gross Margin $232,734 Income before Taxes $91,178 Net Income $66,560 Earnings Per Share $0.002