EDMONTON, Feb 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- Planet Organic Health Corp. - (TSX Venture Exchange - POH).
Planet Organic Health Corp, Canada's leading natural products retailer, today reported consolidated sales for the quarter ended December 31, 2006 of $13.8 million compared to $9.2 million for the same period last year, an increase of 50% or $4.6 million.
"Each of our divisions performed well," said company co-founder and CFO Darren Krissie, "with Planet Organic Markets showing the greatest growth."
PLANET ORGANIC MARKETS seven full-service organic food stores generated revenues of $9.2 million for the quarter. This includes a 17.9% increase in same-store sales from the same period last year ($7.9 million compared to $6.7 million for the five locations in the comparison).
In the reported quarter, Planet Organic Markets opened its second Calgary location as well as acquiring a second location in Edmonton. Mark Craft, company co-founder and president of the division said, "The new Calgary store exceeded my predictions, and became profitable the very week it opened. The second store in Edmonton will add about $750,000 to quarterly revenue."
Craft also reported that Planet Organic Markets opened its first Ontario location on February 15. The store is located in Port Credit, 20 minutes west of downtown Toronto.
SANGSTER'S HEALTH CENTRES the franchised 50 vitamin store division of Planet Organic Health Corp. reported sales for the 13-week period of $4.3 million, compared to $3.9 million in the same period last year, an increase of 9.3%. The increase was driven by the acquisition of the Newfound Health chain in August 2005. Sangster's same-store sales increased 6.1% to $4.2 million compared to $3.9 million for the same period last year.
"We are pleased with our overall sales growth and same-store sales growth. This has greatly increased due to our launch of more Sangster Brand Products and our unique Marketing Concept," reports Roy Sangster, President of the Sangster's division.
HEALTHY'S, POHC's corporate health centres, reported sales of $976,934 for the quarter. This represents an 8.0% increase over the same period last year, when it was privately owned. They are 7 locations in the Greater Toronto Area.
TROPHIC CANADA - the vitamin manufacturing division of Planet Organic Health Corp, reported sales results for the 13-week quarter ending December 31, 2006. Net sales for the quarter increased by 7.9% to $1.6 million. "Another great quarter for Trophic," reports Krissie. "We continue to capitalize on vertical integration synergies and Trophic's sales channels throughout Canada."
POHC consolidated sales are after consolidation entries. Segmented sales by division are prior to consolidation entries, reflecting their net sales to the industry and to related parties. Percentages and numbers are rounded. These figures are subject to final adjustments.
Planet Organic Health Corp will be releasing their second quarter financial results March 1, 2007, after the markets close.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (CA:POH: news, chart, profile) , is a natural products industry company, comprising manufacturing, distribution and retail. Recognized as one of the Top 50 Companies on the TSX Venture Exchange, where it is listed as a Tier One company, Planet operates eight natural food supermarkets throughout Canada under the Planet Organic Market banner. The company also operates 50 natural health outlets under the Sangster's Health Centre banner and 7 natural health outlets under the Healthy's banner. Another POHC company, Trophic Canada is the country's leading manufacturer of natural supplements. The Company has a total of 65 stores throughout the country.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.