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Progressive Planet Reports Financial Results for Fiscal Q1 2024
Progressive Planet Reports Financial Results for Fiscal Q1 2024 Canada NewsWire ...
About this update from Progressive Planet Solutions Inc.
[{"type":"text","content":"\n \n \n \n Progressive Planet Reports Financial Results for Fiscal Q1 2024\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION IN THE\n \n USA\n \n /\n \n \n \n \n \n KAMLOOPS, BC\n \n \n ,\n \n \n Sept. 25, 2023\n \n \n /CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF)\n \n (\"Progressive Planet\", \"PLAN\", or the \"Company\")\n \n , a leader in developing CleanTech solutions for the planet, announces it has filed consolidated financial statements and related management's discussion and analysis (\"MD&A\") for the fiscal quarter ending\n \n July 31, 2023\n \n on SEDAR+. These documents are also available on the Company's\n \n website.\n \n \n \n \n \n \n \n \n \n \n \"Progressive Planet replaced the ultra-low margin business strategically discontinued in fiscal 2023 from large retail customers and is making more for the same efforts,\" says Progressive Planet CEO\n \n Steve Harpur\n \n .\n \n \n Added Harpur: \"With two unused credit facilities totalling\n \n $3.21 million\n \n at quarter ended\n \n July 31, 2023\n \n , we are in a good position to bridge any short-term operating cash constraints and fund growth in the short-term without raising new equity as we move forward into historically stronger quarters.\"\n \n \n \n Fiscal Q1 2024 highlights\n \n \n \n \n Revenue decreased by 1.8% from\n \n $5.03 million\n \n for the quarter ended\n \n July 31, 2022\n \n , to\n \n $4.93 million\n \n in the quarter ended\n \n July 31, 2023\n \n \n \n Increased gross margin\n \n 1\n \n of the base business by 3.1% from the quarter ended\n \n July 31, 2022\n \n (23.5%) to the quarter ended\n \n July 31, 2023\n \n (26.6%)\n \n \n Cost of sal...