$VPRB News!!! 2nd Quarter Revs up 31%!!!
ORT LAUDERDALE, Florida (August 14, 2019) – VPR Brands, LP (OTC: VPRB), a market leader specializing in vaporizers and accessories for essential oils, cannabis concentrates and extracts (CBD), as well as electronic cigarettes containing nicotine, will begin quotation on the OTCQB Venture Market today.
VPR Brands also recently announced its second quarter and year to date 2019 financial results, posting increased revenues for both periods as compared to comparable periods in 2018. VPR Brands reported $1.58 million in revenues for the second quarter of 2019, representing an increase of 31% over the second quarter of 2018. The company saw a similar 31% increase for the six months ended June 30, 2019, as compared to the comparable period in 2018.
Kevin Frija, VPR Brands’ CEO commented, “The results of putting our newly raised capital to work in Q2 were increased sales and larger distributor and private label orders, which are key components to our growth strategy and will allow the company to continue to increase revenues and scale the business going forward. Although our gross profit margins decreased, once we reach a larger volume we expect to be able to trim costs and regain some percentage points to maintain our target 40% margins.”
“In the second quarter of 2019, VPR Brands was able to invest in expanding product lines and on-hand inventory to be able to acquire new distributors and better meet demand. Launching our new variable voltage twist battery played a big part in gaining entry-level product market share in the below $25.00 MSRP range,” said Dan Hoff, COO of VPR Brands.
The OTCQB® Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation.
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