Military Resale Group gains financial rank
Mar 11, 2004 12:00 PM, from staff and wire reports
Military Resale Group Inc, a food distributor for military base commissaries and exchanges, has completed a private placement of restricted stock to accredited investors, resulting in proceeds of $500,000 to the company. The group also signed 25 new sales contracts for food and consumer goods during the first quarter of 2004, representing potentially more than $6 million in new annual revenues based upon past sales of such products to the United States Defense Commissary Agency.
The recent addition of new product lines should result in Military Resale Group tallying an operating profit for the first quarter of 2004 and 2004 revenues of about $12 million. This compares with 2003 revenues expected to be approximately $6 million.
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