WestBond Increases Sales and Profit for the Year ended March 31, 2019
June 20 2019 - 8:48PM
WestBond Enterprises Corporation (TSX-V: WBE) has posted a profit
of $421,264 for the year ended March 31, 2019. This represents an
increase from the profit of $298,088 for the year ended March 31,
2018 of 41.3%. Sales for the year increased 15.6% to $11,363,162
this year compared to $9,829,025 for the year ended March 31, 2018.
The increase in sales is due to the company’s efforts to develop
new markets for its air laid products and existing clinical and
personal hygiene lines. Air laid products and parent roll sales
increased significantly in the food service market. WestBond
intends to continue to develop these markets and increase
profitability by improving production efficiencies and lowering
overhead costs.
The annual report and other information can be
found on the company’s website at www.westbond.ca and on SEDAR at
www.sedar.com.
For further information please contact:
Gennaro MagistraleChief Executive Officer,
President and DirectorWestBond Enterprises Corporation101 – 7403
Progress Way, Delta, B.C. V4G 1E7Tel: (604) 940-3939
Cautionary Note Regarding Forward
Looking Statements: This release includes certain
statements and information that constitute forward-looking
information within the meaning of applicable Canadian securities
laws, including statements regarding the Company’s
intentions. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as “intends” or “anticipates”, or variations of
such words and phrases or statements that certain actions, events
or results “may”, “could”, “should” or “would” occur.
Forward-looking statements are based on certain material
assumptions and analysis made by the Company and the opinions and
estimates of management as of the date of this press release,
including the ability to develop markets and increase
profitability. Although the Company considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors may
include, among others, changes in operating performance,
availability of and prices for raw materials, availability of
trained labour, foreign currency exchange rate fluctuations,
unexpected competition and other technical, market and economic
factors. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward-looking information. Readers are cautioned
that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any
forward-looking statement, forward-looking information or financial
out-look that is incorporated by reference herein, except in
accordance with applicable securities laws. We seek safe
harbour.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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