Acology Inc (OTCMKTS:ACOL) posted that earnings had surged 12.5% throughout the last quarter of FY2016, despite notable expenses in expansion, infrastructure and additional manpower costs. Executives are estimating that the net-impact of investments done in the year to expand the business, will disburse dividends immediately.
Different investments comprise expansion of warehouse businesses in Canada and California, improving technology and printing capabilities and hiring additional staff to manage increased sales. Sales of all products increased considerably since the start of the new year and Acology continues to be confident that this style will continue for the near future.
Acology management confidence has spilled-over to business partners and investors alike. The company’s sales and fulfillment subsidiary unit, D&C Distributors LLC, has announced that international orders for products have expanded well as compared to initial predictions. Partnership and investment proposals have also intensified, endorsed by the steady, sustained advancement of the firm and the international implications of a rapidly-surging recreational and medical cannabis industry.
Earlier, the company stated that the sales in January were record sales in its company history. In fact, it surpassed previous marks recorded during 4Q2016. Acology staff have expressed confidence that the 1Q2017 would advance this trend, laying their optimism on sustained expansion in Canada and the inclusion of new products and product lines. Income in the reported quarter surged 33% above the same quarter in 2016. Unit sales of all offerings, led by the MedTainer™, surged by 25% over last year.
The cannabis industry is continuing to embrace the multi-functional container as it continues to grow, prompting Acology and its subsidiary to increase production and match the demand. In addition, Boveda humidity packs are planted in each Medtainer even before shipping, brining increased value to the product and generating increased demand for Boveda products countrywide. The company commenced the year by approaching almost 4,000 distributors worldwide.