Business
Exxe Group's Reports Over 600% Increase in Annual Revenue and 111% in Net Income
Exxe Group's Reports Over 600% Increase in Annual Revenue and 111% in Net Income.
About this update from Exxe Group Inc.
[{"type":"text","content":"\n\n\n\nExxe Group's Reports Over 600% Increase in Annual Revenue and 111% in Net Income\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\n\n\n\n\n\nExxe Group's Reports Over 600% Increase in Annual Revenue and 111% in Net Income\n- Revenue of $15.3 million for year ended March 31, 2020 versus $2.1 million a year ago\n- Net income for the year was $3.6 million as compared with $1.7 million last year\n- Shareholder's equity leaped to $116. 2 million, up from $37.8 million\nPR Newswire\nNEW YORK, Aug. 27, 2020\n\n\n\nNEW YORK, Aug. 27, 2020 /PRNewswire/ -- Exxe Group, Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in financial services, real estate, sustainable technology, and agribusiness, is pleased to announce that its financial results for the year ended March 31, 2020 were substantially higher than results from the previous year. Revenue of $15,341,001 was over 620% higher than the $2,102,415 reported for the year ended March 31, 2019. Net income gains were also very strong, rising over 111% to $3,556,558 from $1,686,106. \nShareholder's equity jumped by over 207% to $116.2 million, up from $37.8 million, aided by a large increase in assets from $65.3 million in the previous year to $192.8 million in assets as of March 2020. Based on the shares outstanding at the end of the period, book value per AXXA share was $0.29, a level many times greater than the stock's recent share price.\nFiscal Year Highlights \nWhile growth in revenue was diverse and across multiple holdings, the primary drivers of the sales growth included new holdings closed during the fiscal year, including the Company's agribusinesses holdings and our Myle-One Beteiligungen AG automotive sector including engine repair and car parts ecommerce business among others. Despite the current COVID-19 pandemic, sales momentum is growing in our key holdings and we expect to continue to generate strong gains in revenue, going forward. \nIn addition to closing several transactions in the agribusiness, automotive, real estate, venture capital and fintech segm...