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OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Announces Its First Quarter Results and Outlines Future Plans
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Announces Its First Quarter Results and Outlines Future Plans.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, May 20, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS), ILUS remains focussed on its M&A strategy of acquiring and growing global technology companies. Ilus has released its first quarter of 2021 results which show that the company has achieved significant milestones.   ILUS International (ILUS) reports that every significant Key Performance Indicator was exceeded during the first quarter of 2021. Nicolas Link took over as CEO in late January 2021 with only 8 weeks remaining until the quarter end. The results show that the new ILUS Management Team have rapidly turned the company around and are now well on track both operationally and financially whilst positioning the company for exponential growth.  ILUS acquired two companies during the First quarter of 2021, with the first acquisition being that of FireBug at the end of January, and the second being The Vehicle Converters (TVC), in February. FireBug is a technology company in the Fire & Rescue sector and The Vehicle Converters are a specialist vehicle converter involved primarily in the manufacture and conversion of medical and rescue vehicles. Early in the second quarter of 2021, ILUS acquired BCD-Fire, a Fire and Life Safety Equipment Installation and Maintenance company with a strong reputation in the Middle-East Region. With ILUS making three very strategic acquisitions within three months, the company is continuing to conduct due diligence and negotiations for several further acquisitions. ILUS’ 3-prong acquisition strategy involves the acquisition of companies for one or all of the following reasons: Technology, Manufacturing Capacity and Route to Market.  Considering that FireBug was only acquired at the end of January, then TVC in February and with FireBug being most active in the UK, Europe and India, all countries which were in lockdown for most of the first quarter, the company still managed to top $500k of revenue,  $73k net profit from operations, and $11.8m profit from investments. Given the timeframe and circumstances, ILUS is satisfied with this result and expects revenue to increase significantly as travel restrictions decrease and the new strategy begins to deliver the expected results. With the large acquisition pipeline that the ILUS Management Team is g...