Even though it’s a quiet day on Bay Street as the U.S. markets are closed for the Memorial Day holiday, one dually-listed independent grocer came out with very impressive financial results after the market close on Friday. The news is reflected in today’s strong trading in shares of Organic Garage Ltd. (TSX-Venture:OG) (OTCQX:OGGFF).
As mentioned, the Company announced audited financial results for the year ended January 31, 2021, reporting a significant increase in year-over-year sales, gross profit and the most profitable year in Company history.
Q4 financial results included sales increasing 32.7% to $7.3 million from $5.5 million, gross profit dollars increasing 21.9% to $2.2 million from $1.8 million and net loss improving to $0.1 million from a loss of $3.0 million.
As for year-end financial, sales increased 25.3% to $30.3 million from $24.1 million, gross profit increased 33.2% to $8.9 million from $6.7 million and net loss improved to $(0.3) million from loss of $(5.1) million.
Shares of OG are currently trading up 22.5% or up $0.09 to $0.49 in early-afternoon trading. Shares of OGGFF will likely see a pop tomorrow once U.S. markets begin trading again.
