Hemp beverage producer Kona Gold Beverage, Inc. KGKG, announced that its wholly owned subsidiary, Gold Leaf Distribution, has posted its highest revenue month in January, closing out with approximately $215,000 in revenue and gross margins of approximately 31%.
Gold Leaf’s Melbourne, FL and Greer, SC locations both posted profits for the month of January. Gold Leaf’s Conway, SC location, which opened in October of last year, is expected to near profitability in the next several months as beverage season kicks in during the Spring and Summer months.
Gold Leaf distribution recently received authorization to distribute to 52 Quik Trip (QT) locations in South Carolina, where it will be delivering a selection of products on a weekly basis to these stores starting in February.
“I am pleased to announce to our shareholders that Gold Leaf Distribution, our distribution subsidiary, continues to hit record monthly revenues and January was no exception,” Robert Clark, CEO of Kona Gold Beverage, Inc, said. “With January being one of the slowest months in the beverage industry, our Gold Leaf operation hit well over $200,000 for the month of January which is evident of the continuation of our monthly growth. Two out of three of our business location were profitable in January and we anticipate Gold Leaf to start posting Companywide monthly profits in the coming months.”
Ooh La Lemin Sparkling Beverage Line Starts Production Next Week
In addition, Kona Gold, the company’s other wholly owned subsidiary, recently announced it has developed and will be launching a new line of beverages, Ooh La Lemin Sparkling Lemonade, with all six flavors going into production next week.
The majority of the first production run of Ooh La Lemin Sparkling is already presold, going to distributors and retail chains.
Kona Gold has secured an additional, larger production run in March in order to stay lock stepped with demand for its new healthy line of beverages.
Ooh La Lemin Sparkling will be available on the company’s ecommerce website along with Amazon in February.
Photo: Courtesy of Nataliya Vaitkevich from Pexels
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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