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DELTA, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) — WestBond Enterprises Corporation (TSX-V: WBE ) posted a net profit of $210,683 for the year ended March 31, 2024 ($574,550 in revenue for the year ended March 31, 2023). Sales fell 16.9% to $9,219,948 this year compared to $11,089,793 for the year ending March 31, 2023.
The decrease in revenue and profit was the result of orders not being shipped due to shortage of warehouse and shipping personnel. The company then hires additional production staff and material handling personnel to reduce or eliminate this bottleneck.
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Sales continue to grow in all modified product categories and profits are expected to increase. Several new markets in the US and Canada have been established in the food service industry. The company continues to focus on this market segment and staff to ensure timely delivery of products.
The annual report and other information are available on the company’s website at www.westbond.ca and on SEDAR at www.sedar.com.
For more information contact:
Gennaro Magistrale
Managing Director, President and Director
WestBond Enterprises Corporation
101 – 7403 Progress Way, Delta, BC V4G 1E7
Phone: (604) 940-3939
Cautionary Caution Regarding Forward Looking Statements: This release contains certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements about the company’s intentions. In general, forward-looking statements and information can be identified by using forward-looking terminology such as “intends” or “anticipates”, or variations of words and phrases or statements that certain actions, events or results “could”, “could”, “must” or “will”. Forward-looking statements are based on certain material assumptions and analyzes made by the company and management’s opinions and estimates as of the date of this press release, including the ability to maintain or expand markets and increase profitability.. Although the company believes these assumptions are reasonable based on currently available information, they may not be correct, and forward-looking statements in this release. subject to numerous risks, uncertainties and other factors that could cause future results to differ materially from those expressed or implied in such forward-looking statements. These risk factors may include, among others, changes in operating performance, availability and prices of raw materials, availability of trained labor, fluctuations in foreign currency exchange rates, unexpected competition and other technical, market and economic factors.. Although the company’s management 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 to differ from those anticipated, estimated or intended. . There can be no assurance that such statements will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Therefore, 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 will not update any forward-looking statements, forward-looking information or financial outlook incorporated by reference herein, except in accordance with applicable securities laws. We are looking for a safe harbor.
Neither the TSX Venture Exchange nor the Regulation Services Provider (as such terms are defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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