Sunora Foods Quarter 2 Financial Results


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TSX.V:SNF
08/29/2014 [ACCESSWIRE]

CALGARY, ALBERTA / ACCESSWIRE / August 29, 2014 / Sunora Foods Inc. ("Sunora" or the "Corporation") (TSX Venture: SNF) is pleased to announce the Quarter 2 financial results for the period ending June 30, 2014. Financial Results and Management Discussion and Analysis can be viewed at www.sedar.com.

Highlights for this period are as follows:

  • -Revenue of $2,836,903 for the 3 month period ending June 30, 2014;

    -Profit of $121,580 or $0.0028 per share;

    -United States sales of $1,698,041;

    -Canadian sales of $691,527;

    -International sales of $447,335.

Sunora continues to penetrate new jurisdictions for food oils in both packaged and bulk forms. The Corporation is recognizing additional growth in emerging markets where awareness of healthy food choices is increasing. Sunora is also experiencing growth in markets where commissioned brokers are providing services on a committed basis for the corporation.

Sunora has also recently agreed to provide additional food oil products to a major Southeast Asia entity. It is expected that this demand for Sunora product will increase for the balance of 2014 and beyond.

President and CEO Steve Bank states; "We are extremely pleased to return to profitability in the second quarter, and continue to benefit from the increasing international demand for our high quality products. As key customers acknowledge Sunora's commitment to quality and timely delivery, we anticipate increasing demand. We are well positioned to meet this demand, and look forward to identifying new products that can utilize our legacy sales channels."

About Sunora Foods

Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.

For further information

Dean Stuart

Investor Relations

T: 403 517 2270

E: dean@boardmarker.net

Steve Bank

Chief Executive Officer and President

T: 403 247 8300

E: steve.bank@sunora.com

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release. 

SOURCE: Sunora Foods Inc.  

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