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Company Reports Record Revenue Increase of 36 Percent over 2021
Company Reports Record Profits Up 61 Percent over Last Year
Sales for March and April Exceeded $3 Million Each Month
MIAMI, FL, May 19, 2022 (GLOBE NEWSWIRE) --
OM Holdings International Inc (OTCQX: OMHI) an owner and operator of OneMart super merchandising stores and Builders Depot in the British Virgin Islands and the parent of its technology subsidiary, Rydeum Caribbean, today announced it anticipates a record six months and a record year.
For the six months ended February 28, 2022, OMHI reported record results, with revenue increasing 36 percent to $18,059,000, versus $13,268,000 for the prior-year period. Net profit increased to a record 61 percent, $1,047,832, compared to net income of $650,827 for the six months ended February 28, 2021.
“The increase in business came from our food service operations, delivery services and yacht provisioning, in spite of supply chain pressures and the pandemic,” said Mark Vanterpool, President and Chairman of OM Holdings International, Inc. “Our sales are rising even as shoppers see the price of food, fuel and other goods creep higher. Our company continues to become more efficient and productive, which is reflected in our bottom line. Customers are still concerned about Covid, however, but we are seeing new trends that indicate customers want to get back to a more normal life. Our data also shows customers are increasing their purchases but spending less time in our stores.”
“I am very comfortable with our steady growth,” concluded Mr. Vanterpool, “I am confident we will see continued revenue growth as we begin opening our new stores this year, with a substantial increase in net profit, by year-end 2022.”
About OM Holdings International, Inc.
OM Holdings International, Inc. (OTC: OMHI), founded in 1986 in the British Virgin Islands (BVI) by Mark Vanterpool, operates delivery services and grocery stores in the Caribbean, with a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OHMI's delivery subsidiary, Rydeum, founded by Mark Hannah in 2019, has partnered with Jamacia’s largest taxicab union, JUTA. The company also provides lumber and other construction supplies to contractors throughout the Caribbean. For more information, please visit https://omholdingsinc.com/.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.