Om Holdings International, Inc. Announces Record Revenue and Increased Profitability for the Six Months Ended 28 February 2022
Company Reports Record Revenue Increase of 36 Percent over 2021
Company Reports Record Profits Up 61 Percent over Last Year
Sales for March and April Exceeded $3 Million Each Month
MIAMI, FL, May 19, 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 Caribbean, today announced it anticipates a record six months and a record year.
For the six months ended February 28, 2022, OMHI reported record results, with revenue increasing 36 percent to $18,059,000, versus $13,268,000 for the prior-year period. Net profit increased to a record 61 percent, $1,047,832, compared to net income of $650,827 for the six months ended February 28, 2021.
“The increase in business came from our food service operations, delivery services and yacht provisioning, in spite of supply chain pressures and the pandemic,” said Mark Vanterpool, President and Chairman of OM Holdings International, Inc. “Our sales are rising even as shoppers see the price of food, fuel and other goods creep higher. Our company continues to become more efficient and productive, which is reflected in our bottom line. Customers are still concerned about Covid, however, but we are seeing new trends that indicate customers want to get back to a more normal life. Our data also shows customers are increasing their purchases but spending less time in our stores.”
“I am very comfortable with our steady growth,” concluded Mr. Vanterpool, “I am confident we will see continued revenue growth as we begin opening our new stores this year, with a substantial increase in net profit, by year-end 2022.”
About OM Holdings International, Inc.