Organic food and “natural” products retailer Planet Organic Health Corp. posted a 16 per cent increase in net income on a 47 per cent rise in sales this fiscal year, the company said Tuesday.
The Edmonton company owns 74 stores in North America, including eight Planet Organic supermarkets in Canada and 11 Mrs. Green’s Natural Markets in the northeastern U.S., plus the Sangster’s and Healthy’s chains of health product outlets, as well as supplement and vitamin manufacturer Trophic Canada.
Planet Organic, which trades publicly on the TSX Venture Exchange, reported $1.47 million in net income on $55.3 million in sales for the year ending June 30, up from $1.26 million on $37.8 million in sales for the year earlier.
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In Canada, the company reported an 18.3 per cent increase in same-store sales growth at its Planet Organic markets, having built two new sites in fiscal 2007. Sales at Sangster’s were up 7.9 per cent year-over-year, while Trophic Canada’s annual sales were up 11.6 per cent.
Chief financial officer Darren Krissie noted in a release Tuesday that the company, having closed the Mrs. Green’s acquisition this summer, has “more on the horizon” for fiscal 2008. Trophic and Sangster’s performance was “well above our expectations,” he added.
