EDMONTON, ALBERTA, May 30, 2005 (CCNMatthews via COMTEX) -- Planet Organic Health Corp. (CA:POH): We are pleased to report the operating results and financial performance of Planet Organic Health Corp for the period ending March 31, 2005. ("Planet Organic" or the "Corporation") (TSX Venture Exchange - "POH"), is a vertically integrated company which owns and operates large natural food supermarkets in Edmonton, Victoria, Calgary, Port Coquitlam, and Halifax, a vitamin manufacturing facility in British Columbia and a chain of supplement stores across Canada.
- On January 3, 2005 Planet Organic Health Corp completed the acquisition of Trophic Canada, one of the Nation's leading vitamin manufacturers and distributors.
- Planet completed the re-branding and renovation of the Victoria location and is near completion on the Edmonton expansion. The Edmonton location will exceed 10,000 square feet, an overall increase of 25%. It will have an in house commissary preparing new deli and baking creations, an expanded produce selection, and larger grocery and natural living sections.
- Consolidated revenues were $8.0 million for the quarter, a 133% increase over the same quarter last year and $18.7 million for the nine-month period, a 116% increase over last year.
- Consolidated operating income for the period increased 974% over the same quarter last year, and 1575% for the nine-month period.
- Net income was $391,300 for the quarter and $281,563 for the nine-month period.
- Both gross and net income have increased dramatically as a result of the recent acquisitions completed by the Corporation and the improved operating results of several individual market stores.
For further information please refer to our Q3 financial statements at www.SEDAR.com
Planet Organic operates natural food supermarkets in Edmonton, Victoria, Calgary, Port Coquitlam and Halifax, a vitamin manufacturing facility in British Columbia and a chain of thirty-five supplement stores across Canada. Planet Organic provides its customers with the convenience of one-stop shopping by offering a broad product selection in all merchandise categories. Planet Organic's objectives are to consolidate the fragmented natural and organic foods industry in Canada and the U.S. via acquisitions, mergers and new retail operations.
This news release contains forward-looking information. Actual results may vary significantly from estimates.