Premium Snack Food Supplier with Expanding Marketing Presence.
Latest Quarterly Results at Record Levels.
Upcoming Plans to Enter the High-Profile Plant-Based Food Sector.
Attractive Share Structure with Only 13 Million OS.
Revenues up 82% to $667,237.00
Global Diversified Marketing Group, Inc. (OTC: GDMK) operates as a food and snack manufacturer, Importer & distributor through its subsidiary in the United States, Canada, and Europe. The company operates through Snack segments. The Snack segment offers Italian Wafers, Italian Filled Croissants, French Madeleines, Wafer Pralines, Shelf Stable Macarons, and other gourmet snacks. GDMK sells its products direct and through various distribution channels comprising specialty, grocery retailers and food-service distributors, DSD as well as vending, pantry, and micro market segment.
GDMK is a fully reporting OTC listed company with a small share structure of only about 13 million shares outstanding. The company has also qualified for the Verified Profile and Transfer Agent Verified designations at otcmarkets.com.
Record Quarterly Revenue Up 82% Over Prior Year Levels
On November 4th GDMK reported results for its fiscal third quarter ended September 30th, 2020. The impressive results included the following highlights:
Revenues were $667,237, an 82% increase, as compared to $366,354 for the same period in 2019
Gross Profit Margin was $246,539, a 71% increase as compared to $143,997 for the same period in 2019
Gross margin percentage was 36.9% compared to 39.3% in the 2019 period
Net profit was $59,144 compared to $14,126 in the 2019 period.
Adjusted net profit which is defined as net profit after adding back non-cash, stock-based expense was $76,856 in 2020 compared to $14,126 in the 2019 period.
Results for Nine Months Ended September 30th, 2020 Compared to the Same nine Months Ended September 30th, 2019 included these highlights:
Revenues were $1,260,539, a 21% increase, as compared to revenues of $1,040,644 for the same period in 2019
Gross Profit was $475,066, a 37% increase, as compared to $344,824 for the same period in 2019
Gross margin percentage was 37.7% compared to 33.1 in the 2019 period
Net loss was $26,132,488 compared to a net loss of $39,263 in the 2019 period
Adjusted net profit which is defined as net profit after adding back non-cash, stock-based expense was $54,267 in 2020 compared to a net loss of $39,263 in the 2019 period.
To date in 2020, GDMK success has been demonstrated with substantial growth despite the pandemic, culminating in a very significant revenue increase and a profitable quarter. GDMK continued its global distribution with new agreements in Austria and EU markets and succeeded in new product launches and partnership agreements with distributors and retailers nationwide. As such, GDMK d to expand its client base.
Entry Into the Strongly Emerging Plant-Based Foods Sector with New Gourmet Snack Products
On September 22nd GDMK announced the company is moving to add all new plant-based gourmet snack food choices to the company’s product lines. Market trends are clearly demonstrating that health and environment conscious consumers are actively seeking plant-based food choices today as it has now been established that such alternatives can offer significant benefits to individual wellbeing and the environment in general. GDMK is responding to this new awareness in consumers with plans to launch the company’s first plant-based gourmet snack options in the first quarter of 2021.
At this time, plans are being worked out with co-packers and other marketing associates to decide on the best possible specific product choices. Immediate emphasis will be on gourmet cookies and snacking, two of Global Diversified’s bestselling lines. Initial marketing will be via the company’s established sales division, partner store sites as well as eCommerce channels including Amazon.com, the world’s largest retailer.
For more information on Global Diversified Marketing Group, Inc. (OTC: GDMK) visit the company’s website at: https://www.360worldsnacks.com.
Company Name: Global Diversified Marketing Group, Inc.
Contact Person: Media Relations
Email: Send Email
Address:4042 Austin Boulevard Suite B
City: Island Park
State: NY 11558
Country: United States