$OMHI OM Holdings International, Inc. Reports Record First-Quarter Results for Quarter Ended November 30, 2021
Revenues Increase 33.3 Percent, Net Income Turns Positive,
Gross Profit Increases 47.7 Percent
Company Expects to Open Three New Stores in 2022
DoGetGo Mobile App Scheduled to Launch in February
MIAMI, Jan. 20, 2022 (GLOBE NEWSWIRE) -- OM Holdings International Inc. (OTCQX: OMHI) an owner and operator of OneMart super merchandising stores and Builders Depot in the British Virgin Islands, and the parent of its technology subsidiary, Rydeum, with its DoGetGo mobile app, today announced its financial results for the first quarter ended November 30, 2021.
For the first quarter of fiscal year 2022 ended November 30, 2021, OMHI reported net income of $155,381, compared to a loss of $51,462 for the period ended November 30, 2020. Revenue for the first quarter of fiscal year 2022 increased 33.3 percent to $8,002,587, compared to $6,002,894 for the three months ended November 30, 2020.
“We had an excellent quarter. With a break in the Covid lockdown and more people traveling, we saw an increase in revenue from food service thanks to the reopening of restaurants, and BVI residents continue to support our supermarkets,” said OM Holdings International CEO Mark Vanterpool. “Our staff returned to a 40-hour week, and we made some additional hires for our new stores. We also saw an increase in deliveries, even though the government lifted restrictions.”
“We continue our commitment to serving our customers and our community throughout these difficult times,” Mr. Vanterpool added. “Additionally, since November we have seen a significant rise in tourism, which gives us increased assurance that this year will be another record one for our company. We also expect significant growth from the three new stores we will open this year, as well as from the launch of our mobile app DoGetGo in Jamaica in several weeks. I am confident fiscal 2022 will be a pivotal year for our goal of becoming a major economic force in the Caribbean retail and mobile app delivery marketplace.”
https://finance.yahoo.com/news/om-holdings-in...00376.html
Revenues Increase 33.3 Percent, Net Income Turns Positive,
Gross Profit Increases 47.7 Percent
Company Expects to Open Three New Stores in 2022
DoGetGo Mobile App Scheduled to Launch in February
MIAMI, Jan. 20, 2022 (GLOBE NEWSWIRE) -- OM Holdings International Inc. (OTCQX: OMHI) an owner and operator of OneMart super merchandising stores and Builders Depot in the British Virgin Islands, and the parent of its technology subsidiary, Rydeum, with its DoGetGo mobile app, today announced its financial results for the first quarter ended November 30, 2021.
For the first quarter of fiscal year 2022 ended November 30, 2021, OMHI reported net income of $155,381, compared to a loss of $51,462 for the period ended November 30, 2020. Revenue for the first quarter of fiscal year 2022 increased 33.3 percent to $8,002,587, compared to $6,002,894 for the three months ended November 30, 2020.
“We had an excellent quarter. With a break in the Covid lockdown and more people traveling, we saw an increase in revenue from food service thanks to the reopening of restaurants, and BVI residents continue to support our supermarkets,” said OM Holdings International CEO Mark Vanterpool. “Our staff returned to a 40-hour week, and we made some additional hires for our new stores. We also saw an increase in deliveries, even though the government lifted restrictions.”
“We continue our commitment to serving our customers and our community throughout these difficult times,” Mr. Vanterpool added. “Additionally, since November we have seen a significant rise in tourism, which gives us increased assurance that this year will be another record one for our company. We also expect significant growth from the three new stores we will open this year, as well as from the launch of our mobile app DoGetGo in Jamaica in several weeks. I am confident fiscal 2022 will be a pivotal year for our goal of becoming a major economic force in the Caribbean retail and mobile app delivery marketplace.”
https://finance.yahoo.com/news/om-holdings-in...00376.html
