Business
Coho Collective Kitchens Inc. Reports Q2 2024 Results
Record quarterly revenue of $1.6 million, up 149% YoY Record quarterly gross profit of $1.3 mi...
About this update from Purebread Brands Inc.
[{"type":"text","content":"Coho Collective Kitchens Inc. Reports Q2 2024 ResultsRecord quarterly revenue of $1.6 million, up 149% YoYRecord quarterly gross profit of $1.3 million, up 146% YoYPurebread generated revenue of $435 thousand in first 11 days post acquisitionVancouver, British Columbia--(Newsfile Corp. - November 30, 2023) - Coho Collective Kitchens Inc. (TSXV: COHO) (\"Coho\" or the \"Company\"), is pleased to announce that it has filed its unaudited Q2 financial results, the highlights of which are included in this news release. The unaudited Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis (\"MD&A\") for the three and six months ended September 30, 2023, can be viewed by visiting the Company's website at www.cohocollectivekitchens.com or its profile on SEDAR+ at www.sedarplus.ca.Q2 Financial HighlightsRevenue increased 149% YoY to $1,633,917 in Q2 2024 from $646,295 in Q2 2023Gross Profit increased 146% YOY from to $1,348,664 in Q2 2024 from $546,901 in Q2 2023The Purebread acquisition added $435,453 of revenue in Q2 2024 for the 11-day stub period ending September 30, 2023 Despite over 149% and 146% growth in revenue and gross profit, respectively, in Q2 2024 vs. Q2 2023, expenditures increased by 25% in the same comparative period (including professional fees related to the acquisition)Management Commentary\"Today marks a significant milestone for Coho Collective Kitchens as we announce our strong Q2 financial results,\" commented Andrew Barnes, Chief Executive Officer. \"The impressive growth in Coho operations and the positive impact of the newly acquired Purebread, along with contributions from our strategic partners, have exceeded expectations. This noteworthy success was achieved while tightly managing expenses, demonstrating our commitment to efficiency and the strength of our collaborative partnerships. We've proven that sustainable growth is achievable while generating increasing returns. We're excited about the continued growth ahead and remain focused on delivering value to our stakeholders.\"Subsequent to Quarter End:The Company, including Purebread, delivered a record month in October 2023, generating over $1.4M in revenue.As announced on October 18, 2023, Purebread intends to open two new locations in British Columbia.As announced on November 23, 2023, Purebread successfully served ...