Sangui BioTech International Inc.: Sales of USD 35,508 in the first half year, Costs and loss is further reduced
- Sales of USD 35,508 in the first half year- Costs and loss is further reduced
Witten, February, 24 2017: In the first six months of fiscal year 2017 (to 31/12/2016) Sangui BioTech International Inc. achieved revenues from royalty income and product sales of USD 35,508. In the same period of the previous year the comparable revenue amounted to USD 26,856. Due to increased revenues of the wound spray Granulox, the resulting royalty income in the first half year increased by 32% compared to the same period of the previous year. After a cautious first quarter, especially a strong end-of-year business was responsible for this development.
The cost - cutting - and liability - protection program adopted during the last year also had an effect in the reporting period: In the first half of the year, operating business expenses were reduced by a further USD 22,752 or 8% to USD 253,465. As a result of this, the operating loss of the first half year decreased compared to the prior year by USD 30,975 to USD 218,615. Accordingly, the cash position of the Company during the reporting period improved.
The sales of Granulox are subject to seasonal fluctuations. As in previous years, a strong year-end business was pleasing. As planned, sales of Granulox and royalty income in the following quarter will not reach the level of the previous quarter. For the full year 2017, however, the company is still expecting the increase in sales of Granulox and corresponding royalty revenues.
Sangui BioTech International, Inc. ("SGBI") is a holding company the shares of which are being traded on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies (OTCQB: SGBI). Companies are current in their reporting and undergo an annual verification and management certification process. Sangui shares also trade on the OTC markets of Berlin and Hamburg-Hannover stock exchanges (symbol: SBH). Its purpose is to provide financing and access to the capital markets for the enterprises of the Sangui group. SanguiBioTech GmbH is a ninety percent subsidiary of Sangui BioTech International, Inc.
For more information please contact: Sangui Biotech International, Inc. Thomas Striepe Fax: +49 (2302) 915191 e-mail: email@example.com
Some of the statements contained in this news release discuss future expectations, contain projections of results of operation or financial condition or state other "forward-looking" information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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