EDMONTON, May 28 /PRNewswire-FirstCall/ -- Planet Organic Health Corp. (TSX Venture Exchange - POH), Canada's leading natural products retailer, today reported consolidated sales for the quarter ended March 31, 2007 of $14.6 million compared to $10.1 million for the same period last year, an increase of 44% or $4.5 million.
"We are very pleased with the results from all divisions," said company CFO Darren Krissie, "same store sales growth at key locations are above expectations."
PLANET ORGANIC MARKET'S eight full-service organic food stores generated revenues of $10.9 million for the quarter compared to $7.3 million for the same period last year, an increase of 49%. This includes a 12% increase in same-store sales from the same period last year ($8.2 million compared to $7.3 million for the five locations in the comparison).
SANGSTER'S HEALTH CENTRES the franchised 50 vitamin store division of Planet Organic Health Corp. reported total system sales for the 13-week period of $4.4 million, compared to $4.2 million in the same period last year, an increase of 5%. Sangster's same-store sales increased 2% to $4.2 million compared to $4.1 million for the same period last year.
HEALTHY'S, POHC's corporate health centres, reported sales of $995,199 for the quarter. This represents a 3.0% decrease over the same period last year when it was privately owned, however, profit margins are up close to 4.0%. The re-brand of Healthy's will be delayed until the beginning of fiscal 2008. Healthy's has 7 locations in the Greater Toronto Area.
TROPHIC CANADA - the vitamin manufacturing division of Planet Organic Health Corp, reported sales results for the 13-week quarter ending March 31, 2007. Net sales for the quarter increased 11% to $2.0 million.
POHC consolidated sales are after consolidation entries. Segmented sales by division are prior to consolidation entries, reflecting their net sales to the industry and to related parties. Percentages and numbers are rounded. These figures are subject to final adjustments.
Planet Organic Health Corp will be releasing their third quarter financial results May 30, 2007, after the markets close.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry company, comprising manufacturing, distribution and retail. Recognized as one of the Top 50 Companies on the TSX Venture Exchange, where it is listed as a Tier One company, Planet operates eight natural food supermarkets throughout Canada under the Planet Organic Market banner. The company also operates 50 natural health outlets under the Sangster's Health Centre banner and 7 natural health outlets under the Healthy's banner. Another POHC company, Trophic Canada is the country's leading manufacturer of natural supplements. The Company has a total of 65 stores throughout the country.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
