Naturally Splendid (TSXV:NSP) announced the following corporate update.
Naturally Splendid has recorded approximately CAD $1,225,000 in gross sales during the first quarter of 2016, which spans the period from January 1, 2016 to March 31, 2016. In comparison, the Company recorded audited gross annual sales of CAD $235,000 in 2014 and audited gross sales of CAD $310,523 to the end of Q3 2015. The audit for 2015 is currently underway and will be available at the end of April.
The increase in gross sales can be attributed to several factors. Naturally Splendid’s retail lines NATERA® and Pawsitive FX™ are showing consistent growth, and the recent acquisition of Chii, which focuses on on-line hemp food sales products, has added to the gross sales. However, the most significant growth has been in the export division of Naturally Splendid where South Korea exports have experienced a very successful start in the first quarter of 2016.
Naturally Splendid CEO, Craig Goodwin, stated:
We experienced steady growth in gross sales from 2014 to 2015. However, Naturally Splendid has already booked approximately CAD $1,225,000 in just the first quarter of 2016. This represents a new and impressive growth milestone for the Company which we will build on throughout 2016 and into the future.
We are definitely pleased with the start to our exporting to South Korea and believe this to be just the beginning of a rapidly growing opportunity. There is the potential to increase not only the dollar volumes of shelled hemp seed shipped to South Korea, but the opportunity exists to add additional product offerings such as hemp protein, hemp oil and in fact, HempOmega®. We are also not limited to South Korea for exporting our products and are investigating the export of our products throughout Southeast Asia. In the next sixty days we will be attending two world-class food tradeshows as members of a Canadian Trade Delegation being organized by the BC Ministry of International Trade. The first tradeshow is in Singapore in April with the second tradeshow being in South Korea in May. Our expectations are to increase our reach and export opportunities throughout this region.