Fosrich💡🔌⚡️👨🔧 continues to see strong growth in their business👏👌
✅Sales up 22% vs last year
✅Profits of $38m vs $4.8m last year
Well done.
But...
✅Sales up 22% vs last year
✅Profits of $38m vs $4.8m last year
Well done.
But...
...before I state that the profit was 8 times the amount made last year this time.... the truth is... last year's profit was lower than normal
Q1 last year, profits were actually down 85% as they had to cover increased expansion costs.... not a bad move either
Q1 last year, profits were actually down 85% as they had to cover increased expansion costs.... not a bad move either
The key story is the continued growth in Sales as they've seen higher 'profits' before... more than $50m in a quarter
They saw increased sales for
✔️Electrical lighting
✔️Hardware
✔️LED
✔️Panels
✔️PVC
✔️Solar & wiring devices
They saw increased sales for
✔️Electrical lighting
✔️Hardware
✔️LED
✔️Panels
✔️PVC
✔️Solar & wiring devices
Their gross margin has fallen a bit, which could be due to increased sales in lower margin products
But they continue to see strong growth👌👏
Imagine this... in 2018 Q1, every DAY they sold over 3 million dollars worth of goods
Now they're selling over 6 million A DAY
But they continue to see strong growth👌👏
Imagine this... in 2018 Q1, every DAY they sold over 3 million dollars worth of goods
Now they're selling over 6 million A DAY
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