The e-commerce-focused group's Nature’s Exclusive subsidiary, posted C$3,818,000 in revenue in April, compared to the same period a year earlier
Corp () (OTCPINK:PEMTF) (FSE:1WZ1) revealed Monday that its e-commerce-focused subsidiary Nature’s Exclusive, posted a record 39% jump in revenue in April to C$3,818,000, compared to the same month a year earlier.
Mota said Nature’s Exclusive, which provides CBD products to consumers in the United States and Europe, had expenses of C$3,609,000, netting a gross profit of C$209,000 for the month of April.
The Vancouver-based company's popular Natures Exclusive brand has a CBD hemp-oil derived from hemp grown in the United States. The extraction process is designed to keep all the beneficial qualities of hemp intact. Natures Exclusive offers a range of products, which include CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee.
READ: Mota Ventures draws a record 17,996 new customers for its Nature's Exclusive brand in April
Mota credits the success in April to its online customer acquisition strategy, resulting in an interim record number of customer acquisitions for the Nature’s Exclusive brand, as well as new customers for the immune support category introduced in March 2020.
The company said there was active demand for “natural health solutions” which “bodes very well” for the recent launch of a hand sanitizer containing CBD through its Nature's Exclusive brand.
“I am very pleased to report another successful month with increased sales over 2019. Our investment in customer acquisition in March this year, which yielded additional subscribers, has been a significant driver to our increased profitability,” Mota CEO Ryan Hoggan said in a statement.
“Despite the worldwide pandemic, we continue to move forward towards our full year goals for 2020, including expansion into the European market. I look forward to reporting on new customer acquisitions in the coming weeks,” he added.
The company is disseminating more information on its natural health brands through its site www.motaventuresco.com as well as newsletters.
The April revenue figures have not been audited and are based on calculations prepared by management. Mota said the figures were translated from US dollars into Canadian dollars using the monthly average exchange rate.
Contact the author Uttara Choudhury at [email protected]
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