EDMONTON, Oct. 30 /CNW/ - Planet Organic Health Corp (TSX Venture
Exchange - POH), Canada's leading natural products retailer announces their
financial results for the year ending June 30, 2007. Sales increased
$17.6 million or 47% compared to $37.7 million for fiscal 2006. EBITDA was up
18.8% or $552,250 over fiscal 2006.
"I'm excited to report that all divisions are growing as planned. We
built two new Planet Organic Market locations and added one acquisition to the
market group, with more on the horizon for fiscal 2008. Trophic and Sangster's
also performed well above our expectations. Now with Mrs Green's Natural
Markets under our belt, we are looking forward to a prosperous fiscal 2008
year", reports Darren Krissie, CFO.
Summary of Fiscal 2007 Annual Financial Results
Fiscal 2007 Fiscal 2006
Sales $55,321,037 $37,797,801
Cost of Goods Sold $33,644,781 $23,177,762
Gross Profit $21,676,256 $14,620,039
Operating Expenses $20,351,323 $13,614,744
EBITDA $ 3,485,329 $ 2,932,809
Income before Tax $ 2,096,736 $ 1,714,744
Net Income $ 1,465,466 $ 1,259,966
EBITDA reported above is a non-GAAP measure and is earnings before
interest, taxes, depreciation, amortization and stock-based compensation.
For further financial information and a copy of our annual report, please
visit our corporate website at www.planetorganichealthcorp.com
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry
company, comprising manufacturing, distribution and retail. In fiscal 2006
POHC was recognized as one of the Top 50 Companies on the TSX Venture
Exchange, where it is currently listed as a Tier One company. Planet operates
eight natural food supermarkets throughout Canada under the Planet Organic
Market banner and 11 natural food supermarkets in the U.S. under the Mrs
Green's Natural Markets banner. The company also operates 48 natural health
outlets under the Sangster's Health Centre banner and 7 natural health outlets
under the Healthy's banner. Another POHC company, Trophic Canada is the
country's leading manufacturer of natural supplements. The Company has a total
of 74 stores throughout North America.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667; Bob Beaty, The Howard Group, (403)