Universal Bioenergy Forecasts Strong Profits and Earnings in 2012:
IRVINE, Calif., Jan. 31, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG.PK - News), a publicly traded independent diversified energy company, announced that it has set out plans to increase revenues and generate earnings and profitability in 2012. To rapidly build its business in the past two years, the Company succeeded in generating substantial sales revenues, a broad customer base, and gaining greater market share. The Company is now shifting its strategy for 2012 to aggressively focus on increasing earnings and profitability.
Universal Bioenergy is a high growth company which continues to grow at double digit rates. The Company achieved sales revenue of $49,904,114 for the nine months year ending September 30, 2011, and incurred losses of $1,244,291 which equaled 2.49% of total sales revenues.
Universal's President Vince M. Guest states, "With our planned acquisitions in the oil, gas and coal segments of the energy industry, we are putting a major drive this year on generating solid earnings and profitability. We have 28 major electric utility customers that purchase natural gas from us now, and we anticipate closing on the Whitesburg Friday Branch coal mining acquisition very soon. Some major steps to increase earnings are to change our strategy for obtaining our supplies of natural gas and negotiate with independent oil and gas producers to obtain long-term natural gas supply agreements. We have initiated discussions with one the largest banks in the U.S. to obtain bank funding for working capital, acquisitions and to purchase gas, oil and coal. We believe these future acquisitions and strategies could bring the Company potentially $5 to $8 million in earning and profits."