SPoT Coffee Year End 2011 Results: Reports 29% Increase to Gross Profit and 16% Sales Increase
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/27/12 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") released its financial results for the Company's fiscal year ending December 31, 2011. Complete audited financial statements and Management's Discussion and Analysis have been filed for public review at and are available on the Company's website at .
All dollar values expressed in Canadian dollars unless otherwise stated.
Year End 2011 Highlights
Commenting on the gross profit and sales increase, SPoT Coffee President, Anton Ayoub commented, "We have achieved major improvements to the financial operation of our cafes. For 2011, our average SPoT cafe sales exceeded the $1.0 million mark while average cafe costs have been noticeably reduced. Each cafe is contributing a return to the head office allowing us to move aggressively forward with the construction of new cafes and enabling us to move closer to generating targeted profit."
SPoT benefited from the following key factors over the year:
SPoT has identified new locations consistent with SPoT's location and demographic criteria and is continuing to strategically grow across Western New York and Southern Ontario. The Company's recently provided an update on its current cafes under construction, SPoT Concord Park Place in North York, Toronto, and SPoT Transit Road in Buffalo, which are both expected to open for business in the summer of this year. SPoT also announced that it will be receiving possession of its new cafe location in Saratoga Springs in July of this year at which time construction will commence immediately with a target date for completion in early fall.
About SPoT
SPoT () designs, builds and operates community-oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and in-house roasted gourmet coffee. The current SPoT management team and directors have been successfully operating company-owned cafes since 2004.
Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.
The Company currently operates seven cafes that range in size from 2,000 to in excess of 4,000 sq. ft. with three more cafes currently under development. SPoT is currently evaluating several locations as part of its North American expansion.
Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither 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 the release.
Contacts:
SPoT Coffee (Canada) Ltd.
Lindsay Cross
Investor Relations Manager
(416) 368-2220
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Datum: 27.04.2012 - 19:07 Uhr
Sprache: Deutsch
News-ID 140244
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Beverages
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