Sugarmade (OTCQB: SGMD), a leading, multidivisional/multiproduct/multisector supply company, has released its July financial report, including record performance numbers for BudCars, the company’s newest acquisition. The cannabis delivery service organization reported more than $660,000 in total gross sales, which represented a 32% sequential monthly top-line growth. The report also included other performance highlights. “Last month featured strong growth in basically every major metric once again for our BudCars segment. We saw an increase in gross margins while demonstrating another breakout month-over-month performance on both the top and bottom line,” said Sugarmade CEO Jimmy Chan in the press release. “Note that April was our first full month operating BudCars. In July we more than doubled the sales and gross profits booked in April. That pace of growth suggests another potential doubling by October on a per-location basis. And we will be operating additional locations by then, which will serve to compound that growth.”
To view the full press release, visit http://ibn.fm/sozsQ
About Sugarmade Inc.
Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. SGMD sees opportunities in business operations that combine the best areas of on-demand consumer distribution with certain areas of synergistic manufacturing and packaging to create a business model that capitalizes on the many changes in the cannabis industry. The company has made agreements with several market participants, which will be announced in 2020. The company views these opportunities as scalable and capable of producing strong revenue growth. For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://ibn.fm/SUGAR
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