Canaf Group earns $166,064 (U.S.) in Q3 2017
2017-09-25 09:33 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR Q3 2017
Canaf Group Inc. has released its financial statements and management discussion and analysis for the three-month period ended July 31, 2017.
During the period, the corporation recorded revenue for the quarter of $1,961,208 (U.S.), an increase of 74 per cent compared with the same quarter last fiscal year, but down 44 per cent from the previous quarter ended April 30, 2017.
During the quarter, the corporation recorded a net income of $166,064 (U.S.), in comparison with a net income of $19,945 (U.S.) for the same quarter the previous year.
For the nine-month period ended July 31 2017, the corporation recorded adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $881,885 (U.S.) ($1,097,080) and net income of $595,716 (U.S.) ($741,080).
For more details and discussion on the results, the financial statements and management 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, 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 owns 100 per cent of Southern Coal Pty. Ltd., a company that produces a high-carbon, devolatized anthracite.
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