Canaf Group earns $231,961 (U.S.) in fiscal Q2 2017
2017-06-16 07:54 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR Q2 2017
Canaf Group Inc. has released its financial statements and management's discussion and analysis for the three-month period ended April 30, 2017.
As forecast, the corporation has recorded another strong quarter of continued sales and profit growth, demonstrating the capabilities and potential of the business.
Revenue for the quarter increased to $3,490,753 (U.S.), an increase of 360 per cent compared with the same quarter last fiscal year and up 16.7 per cent from the previous quarter ended Jan. 31, 2017.
During the quarter, the corporation recorded a net income of $231,961 (U.S.), in comparison with a net loss of $41,382 (U.S.) for the same quarter the previous year.
For the six-month period ended April 30, 2017, the corporation recorded adjusted earnings before interest, taxes, depreciation and amortization of $679,582 (U.S.) ($927,257) and net income of $429,652 (U.S.) ($586,240).
For more details and discussion on the results, the financial statements and management's discussion and analysis can be viewed on SEDAR or the company's website.
About Canaf Group Inc.
Canaf is a junior mining related group based in Vancouver, Canada, and with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African-based company that produces a high-carbon, devolatized anthracite.
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