Profitability forecasted within 2019
TORONTO, Ontario, Feb. 05, 2019 (GLOBE NEWSWIRE) -- Franchise Holdings International (FNHI), Worksport Ltd.’s parent company, said it was on track to achieve revenues representing at least a 1100 per cent increase year over year, when compared with 2018. Worksport, an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for the light truck market, provides products for the Sierra, Silverado, Canyon, RAM, and Ford F-Series. Covers like Worksport’s are considered the single most commonly purchased item for pickup trucks.
The North American tonneau cover market, estimated to be in the multi-billions, is driving Worksport’s growth. One key factor is the overwhelming success of its private label initiative. With its proprietary designs and patents, Worksport supplies custom tonneau covers for large brands in the U.S. and Canada and received in excess of U.S. $1,000,000 in orders within the past 90 days. New private label orders are arriving regularly. Another large U.S. client has placed a sizeable opening order to ship in March, 2019 from Worksport’s “discovery” product offering, its more innovative models.
“We are set to make history…we are just getting started”
“We’re eagerly focused on profitability and sustainable growth,” said Worksport CEO Steven Rossi. “I wish to thank all shareholders, partners and direct investors for their support, which has led us to this moment. There is still a lot of work to be done. After the name change, successful capital placement, new and innovative products, tremendous revenue growth, and the much-anticipated potential cross listing on the Canadian Securities Exchange, we are set to make history. It will be a victory for shareholders. We are just getting started. We have several new partnerships and investments ahead that are expected to bring even more value to our investors.”
Management will promptly update its shareholders as it reaches milestones relating to new products, patents, trademarks, completion of its CSE listing as well as when it reaches revenue milestones.
About Franchise Holdings International
Franchise Holdings International (FNHI) is a strategic investment company. Franchise Holdings International’s strategy is to partner or invest in companies and provide them the tools to become the fastest growing businesses in their segments creating shareholder value in the process. Once a business of interest is acquired, invested in and/or partnered with, our mission is to further develop and accelerate the growth for those subsidiaries. Currently the Corporation has one fully owned subsidiary, Worksport Ltd. an innovative fast-growing manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for pickup trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information please visit www.worksport.com
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Mr. Steven Rossi
CEO & Director
Franchise Holdings International .