DTS8 Coffee Company announced that revenue from its fresh, artisan roasted coffee grew by 22%, for the six months ended October 31, 2014 when compared to October 31, 2013. Revenue increased to $173,839 compared to $142,235 which is consistent with growth experienced for the year ended April 30, 2014.
Cost of sales were $109,350 and $86,989, respectively; gross profits for the six months ended October 31, 2014 and 2013, were $64,489 (37% of sales) and $55,246 (39% of sales). Losses for the six months ended October 31, 2014 and 2013 were $439,471 and $158,513, respectively. Further details are contained in the quarterly report filed on Form 10-Q.
Mr. Sean Tan, DTS8 CEO, commented, "We continue to achieve consecutive quarter over quarter revenue increases and remain fully committed to the fresh, artisan roasted, gourmet coffee marketing strategy which is providing a platform for continued future revenue growth in the growing Chinese coffee market."
Mr. Tan, added that "During the past six months, DTS8 obtained a license to use the Federación Nacional de Cafeteros del Colombia/Colombian Coffee Growers Federation's (FNC) triangular logo representing Juan Valdez and his mule 'Conchita' to identify the Don Manuel brand as '100% Colombian coffee' in China. In October, DTS8's JV partner for the Don Manuel brand opened its first café in the Bund area of Shanghai. 'Café de la DON MANUEL' coffee café is located at 150 East Jing Ling Road, Shanghai. The Don Manuel '100% Colombian coffee' sold in the café is exclusively roasted by DTS8."
