Quarterly Revenue and Asset Growth 240%
Press Release | 08/22/2019
NEW YORK, Aug. 22, 2019 (GLOBE NEWSWIRE) -- Exxe Group (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in real estate, sustainable technology, media, financial services and agriculture, announced today strong year-over-year, quarterly financial results for the period ended June 30, 2019.
Revenue grew by over 240% to $1.2 million as compared with $348,439 for the same period last year. The growth in revenue was diverse and across multiple holdings, led by sales and income generated by its new real estate, mortgage, industrial and agriculture holdings. Given the strength across the spectrum, management is very encouraged regarding future revenue growth performance in the second half of the year. Moreover, the integration of the recently closed transactions should begin to drive our cross-holding growth.
Shareholder’s equity rose to $80.3 million versus $37.8 million in the corresponding quarter in 2019, an impressive 110% increase. This figure is a key measure that demonstrates that the company’s aggressive, targeted acquisition and operations strategy is succeeding. Investors should expect a series of new Letters of Intent to be announced prior to the end of the current quarter. Once closed, these transactions will further increase our reach and financial performance.
Separately, now that we have filed our quarterly report, an independent research report commissioned by the company providing a review and assessment of current and future valuations for the company will be released before month-end.
About Exxe Group
Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com.
