Higher profits for cannabis fertilizer supplier
March 7, 2017, Vancouver – Future Harvest Development Ltd. has generated $1.578 million in revenue for the eight months ending Feb. 28, 2017, with a gross margin of $807,846, representing a 51 per cent gross margin compared to the same period in the prior year gross margin of $617,779, and a 39.6 per cent margin.
Future Harvest’s Holland Secret signature brand fertilizer for the cannabis sector grew by 26.5 per cent to $137,389 in revenue during that period.
Invictus MD Strategies Corp. owns 82.5 per cent of Future Harvest.
“We provide specialty fertilizers and other supplies for hydroponics, the indoor method of growing crops favored by cannabis cultivators,” said chief revenue officer Chris Pearson.
“We know there’s an even larger market out there. We’re squarely focused on what’s made our business successful, these being high-value crops.”
To meet the growing demands in the cannabis sector, Future Harvest ramped up production and recently installed a second, fully automated bottling line. This addition increases its overall production efficiency by 400 per cent.
“Future Harvest also recently introduced a state-of-the-art pill press (patent pending),” said Pearson, “enabling us to produce water-soluble nutrient tablets, eliminating the need for water and salt and greatly reducing packaging and transportation costs for large-scale commercial applications.
These initiatives better position Future Harvest for highly profitable business opportunities within the cannabis sector.”
FUTURE HARVEST SERVING GROWERS IN SEVERAL MARKETS
Future Harvest’s product lines are available through leading distributors and retailers across North America, the United Kingdom and Europe and include Nutradip, Plantlife Products and Future Harvest Plastics.
“As Canada embarks on a course to legalize recreational marijuana on a federal level and become a global leader in cannabis cultivation, processing and export, we remain confident in our ability to continue delivering strong results this year, and expand Future Harvest to further increase shareholder value,” said Dan Kriznic, chairman and CEO of Invictus MD.“
Invictus MD Strategies Corp. is focused on three main verticals within the burgeoning Canadian cannabis sector: licensed producers under the ACMPR; fertilizer and nutrients through Future Harvest Development Ltd.; and cannabis data and delivery, with its wholly owned subsidiary Poda Technologies Ltd.