$SFIO Starfleet Innotech Shows Strong 2021 Performance, $25-M in Revenues, in First Annual Report
https://www.globenewswire.com/news-release/20...eport.html
NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC Pink: SFIO) ("SFIO" or “The "Company"
today announced details around the release of its annual report.
SFIO is a global investment holding company focused on innovation through disruptive collaborations across three key industries: Food and Beverage, Real Estate, and Technology. Yesterday (Wednesday March 30, 2022), the company filed its Annual Report.
By year-end, as of December 31, 2021, SFIO closed with a total consolidated revenue of $25.11 million. The company ended this period with corporate cash of approximately $2.36 million.
Gross profits reached $13.99 million, led by the Food and Beverage division, which along with its branch operations accounted for 40% of total revenue. These did not include the revenues generated by franchised sites. Strategic partnerships and acquisitions across the supply chain led to new revenues and greater efficiencies, showing a net margin of 23%. By end of year, the company exhibited net income before taxes amounting to $5.87 million.
Through these strategic partnerships, joint ventures, and acquisitions, SFIO grew its assets substantially in 2021, all while keeping liabilities to a minimum.
“We ended 2021 with a strong showing, highlighting the sound strategy behind our ecosystem-building initiatives,” said SFIO CEO Jeths Lacson. “Just as our acquisition efforts have turned our F&B division into a cost-effective, efficient growth engine for SFIO, we are investing further in acquiring and incubating more businesses to empower our conglomerate.”
“While we continue to be opportunistic around growth, we have taken a mindful, strategic approach to these opportunities. To accomplish this, we've invested in onboarding top global talents onto our management team,” Lacson said. “This highly-aligned, empowered roster of leaders bring decades of experience across F&B, Real Estate, and Technology to help guide our mission of forging the futures of these industries.”
SFIO will be conducting its very first webinar on the 5th of April, 5PM EDT where Starfleet Innotech's leadership team will present the latest updates and answer questions from the community. Details on how to participate in this webinar will be shared through SFIO’s online channels.
As part of SFIO’s initiatives to maximize shareholder value, the company is working on restructuring shares and acquisitions which will be announced soon.
https://www.globenewswire.com/news-release/20...eport.html
NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC Pink: SFIO) ("SFIO" or “The "Company"
today announced details around the release of its annual report. SFIO is a global investment holding company focused on innovation through disruptive collaborations across three key industries: Food and Beverage, Real Estate, and Technology. Yesterday (Wednesday March 30, 2022), the company filed its Annual Report.
By year-end, as of December 31, 2021, SFIO closed with a total consolidated revenue of $25.11 million. The company ended this period with corporate cash of approximately $2.36 million.
Gross profits reached $13.99 million, led by the Food and Beverage division, which along with its branch operations accounted for 40% of total revenue. These did not include the revenues generated by franchised sites. Strategic partnerships and acquisitions across the supply chain led to new revenues and greater efficiencies, showing a net margin of 23%. By end of year, the company exhibited net income before taxes amounting to $5.87 million.
Through these strategic partnerships, joint ventures, and acquisitions, SFIO grew its assets substantially in 2021, all while keeping liabilities to a minimum.
“We ended 2021 with a strong showing, highlighting the sound strategy behind our ecosystem-building initiatives,” said SFIO CEO Jeths Lacson. “Just as our acquisition efforts have turned our F&B division into a cost-effective, efficient growth engine for SFIO, we are investing further in acquiring and incubating more businesses to empower our conglomerate.”
“While we continue to be opportunistic around growth, we have taken a mindful, strategic approach to these opportunities. To accomplish this, we've invested in onboarding top global talents onto our management team,” Lacson said. “This highly-aligned, empowered roster of leaders bring decades of experience across F&B, Real Estate, and Technology to help guide our mission of forging the futures of these industries.”
SFIO will be conducting its very first webinar on the 5th of April, 5PM EDT where Starfleet Innotech's leadership team will present the latest updates and answer questions from the community. Details on how to participate in this webinar will be shared through SFIO’s online channels.
As part of SFIO’s initiatives to maximize shareholder value, the company is working on restructuring shares and acquisitions which will be announced soon.
