Canada’s leading natural products retailer, Planet Organic Health Corporation, has announced that its net income for the fiscal year ending 30 June 2006 increased by 549% to C$1.2m (US$1.05m), up from C$193,906 the previous year.
Sales were up by C$10.5m to C$37.7m for the full year, a 38% increase from sales of C$27.2m the year before.
The company said that the increase was driven by acquisitions, store expansions and same-store sales growth.
“I’m pleased to report that all divisions are performing above expectations. Synergies through vertical integration are helping to drive top and bottom line results”, reported Darren Krissie, CFO. “We will continue our aggressive acquisition and build-out strategy at both retail divisions.”