Good Natured Products Inc. (TSXV: GDNP) (OTC: SLGBF)
61Good Natured Products Inc. (TSXV: GDNP) (OTC: SLGBF) - RICH TV LIVE - SEPTEMBER 17, 2020 - Good Natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP), today announced its financial results for the three months (“Q2 FY20”) and six months ended June 30, 2020 (“YTD”). Richard De Sousa purchased 10000 shares of GDNP
Key Highlights:
Revenues for Q2 FY20 increased 57% to $3,675,802 compared to $2,337,411 for the three months ended June 30, 2019. YTD revenues increased 53% to $6,727,889 compared to $4,393,425 for the six months ended June 30, 2019.
Gross profit for the three and six months ended June 30, 2020 was $1,628,529 and $2,736,769 respectively compared to $826,018 and $1,598,563 for the three and six months ended June 30, 2019, representing an increase of 97% and 71% compared to the three and six months ended June 30, 2019. As a percentage of sales, gross profit for the three and six months ended June 30, 2020 increased to 44.3% and 40.7% versus 35.3% and 36.4% for the three and six months ended June 30, 2019.
SG&A, excluding acquisition activity, for the three and six months ended June 30, 2020 was $1,569,967 and $2,864,738 compared to $1,090,054 and $2,085,237 for the three and six months ended June 30, 2019, representing an increase of 44% and 37% compared to the three and six months ended June 30, 2019.
The Company’s EBITDA, a non-GAAP measure, loss in the three and six months ended June 30, 2020 was $40,525 and $348,252 compared to $366,855 and $709,751 for the three and six months ended June 30, 2019, an improvement of 88% and 48% respectively.
“We’re incredibly proud of how our team rallied to deliver over 50% growth in our second quarter despite unprecedented economic and community challenges,” said Paul Antoniadis, CEO of good natured®. “Our broad assortment of plant-based products is specifically designed to serve diverse customers and segments, which has allowed us to adapt quickly to current circumstances, refine our operations and continue to grow.”
The Company’s Q2 FY2020 interim financial statements and Management’s Discussion and Analysis (MD&A) are available on SEDAR at www.sedar.com.
About good natured Products Inc.
good natured® is producing and distributing one of North America’s widest assortments of better everyday products® made with the highest possible percentage of renewable, plant-based materials and no BPAs, phthalates or other chemicals of concern potentially harmful to human health and the environment.
With a growing assortment of over 385 products and services, good natured® creates eco-friendly home and business products, food packaging, restaurant/take-out containers, medical and industrial supplies designed to do good for the planet, good for human health and good for business by driving incremental sales, minimizing waste and reducing environmental impact, all bundled up in a fresh and approachable brand.
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