Business
RUM Reports Earnings Increase
RUM Reports Earnings Increase
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Reports Earnings Increase\n\n\n Apr. 28, 2010 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), (the \"Company\"), listed on the TSX Venture Exchange, today reported its financial results for the year ending December 31, 2009.  For December 2008, the Company only reported 5 months of operations from August 1, 2008 to December 31, 2008. This was required because Andersons Liquor Inc (\"Andersons\"), which is wholly owned by the Company, adopted a December 31st year end, the same year ending date as the Company.  To simplify comparison for everyone, we are making a comparison of the Company's 2009 results to the last full year results for Andersons, which 12-month period ended July 31, 2008 (\"last comparable 12-month period\").Results for the 12-month period ending December 31, 2009:* Net profit was $803,539 as compared net profit of $537,671 in Anderson's last comparable 12-month period; an increase of 49%;* Income from operations was $2,265,683 as compared to income from operations of $1,367,039 in the last comparable 12-month period; an increase of 66%;* Revenue was $32,717,175 as compared to $17,844,727 in the last comparable 12-month period; an increase of 83%.Highlights for the 12-month period ending December 31, 2009* Andersons purchased 7 stores during 2009 for a total of 26 stores* New CFO, Tracey Bean was appointed in February 2009;* The Company issued a convertible debenture in the amount of $809,000 to vendor of multi store acquisition in March 2009* Andersons hedges $5.5 million at 2.14% plus credit spread for 5 years. A further 4.5 million hedge was contracted in April 2010 at 3.35% for 5 years. * Andersons upsized its credit facilities with TD Bank from $7 million to $15.0 million;* Humber Capital Corporation changes name to Rocky Mountain Liquor Inc. the trading symbol \"RUM\" remained unchangedEvents Subsequent to December 31, 2009Three additional stores have been purchased and placed in operation since December 31, 2009. Andersons now operates 29 stores, has 185 employees and has announced the potential for new developments and acquisitions of 5 more to the end of Q3 2010. Should these new developments and acquisitions occur Andersons would own and operate 34 stores in Alberta. \"I am really proud of the accomplishments of our team.\" Stated Peter Byrne, CEO. \...