Military Resale Group profitably soldiers on
May 9, 2005 9:36 AM, from staff and wire reports
Military Resale Group Inc, a regional distributor of grocery items specializing in distribution to the military market, announced that its 2004 revenue increased 28% to $7,769,338 from 2003's revenue of $6,049,445. Gross profit for 2004 totaled $1,159,266, a 66% advance from $699,671 in 2003.
Edward T Whelan, chief executive officer, said, “While MYRG has suffered from the loss of business and market capitalization, we have grown tenfold since we acquired Pittock Distributors. MYRG will continue with our record fill rate to add new exclusive and new high-margin product lines in the front range market, like the recently announced Nest Fresh Eggs line. We will also continue to look for geographical expansion or acquisition opportunities while we work to get our audit completed and our filings updated to be listed on the OTCBB again.”
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