Plainview NY -- May 31, 2016 -- InvestorsHub NewsWire
-- Italian Food & Beverage Corp. (OTC
PINK: IFBC ) continues to position itself as a commercial
ambassador of the great Italian food and wine culture. As an
importer, exporter, merchant, distributor and dealer of fine wine
and food products, IFBC and its subsidiaries have established
wholesale distribution headquarters, offices and warehouses in
several countries including Italy, Singapore, Austria, Hungary and
the UK.
IFBCs revenues for the Three Months Ended, March 31, 2016,
amounted to $336,121, which represents almost 40% of the $864,616
of revenues amassed during the entire year of 2015. The Gross
Income for the Three Months Ended, March 31, 2016, totaled
$249,786, for a Percentage Gross Profit of 74.3%. This is in
comparison to $563,937 of Gross Income for the entire year of 2015,
for which the Percentage Gross Profit amounted to 65.1%. The 1st
Quarter of 2016 showed a Net Income of $22,790 compared to a
($455,165) Net Loss for the entire year of 2015. IFBC is improving
both its profitability and its percentage gross profits via an
emphasis on higher margin food products, the sales of which are
eclipsing those of the wine segment of the business.
As for the near future, IFBC is seeking to expand its street
food stands, which are already in place, with www.brandout.it, and with two new companies www.freetto.it and www.biolee.it. Through Campagna
Amica, the company is currently engaged in negotiations with The
Italian Farmers Group in London. This opportunity will allow IFBC
the ability to introduce, into a 30-seat space, named Bottega
Italiana, the new offerings of Freetto, lightly fried, high-quality
Italian fare, and Biolee, the genuine article of rich, Italian ice
cream in The United Kingdom, as well as in new food stands
throughout Europe.
Over the past 18 months, operations have been streamlined and
improved, new strategies calling for the emphasis on the sale of
street food have been implemented, and specific financial goals and
objectives have been firmly established, stated Andrea Di Gregorio,
Vice President. Embedded Video Available: http://youtu.be/tFVWFEdlQAI
About Italian Food & Beverage Corp. Italian Food &
Beverage Corp. establishes and develops brands committed to fulfill
customer needs throughout the world while providing the finest
experiences based on the Italian wine and food culture. IFBC
operates as an importer, exporter, merchant, distributor and dealer
of fine wine and food products. The Company and its subsidiaries
have established wholesale distribution headquarters, offices and
warehouses in several countries including Italy, Singapore,
Austria, Hungary and the UK. http://ifbcorp.com/
Forward Looking Statements This release contains
"forward-looking statements" and information provided by Italian
Food & Beverage Corp. such as online, printed documents,
publications or information available via its website. It may
contain certain forward-looking statements that involve risks,
uncertainties, assumptions and other factors, which, if they do not
materialize or prove correct, could cause the Company's results to
differ materially from historical results, or those expressed or
implied by such forward-looking statements. All statements, other
than statements of historical fact, are statements that could be
deemed forward-looking statements. These statements may also
include plans, strategies and objectives of management for future
operations; any statements regarding proposed new products,
services or developments; any statements regarding future economic
conditions or performance; statements of belief; and any statements
of assumptions underlying any of the foregoing. There can be no
assurance that the negotiations being considered by the letter of
intent will be completed.
Contact info:
Italian Food & Beverage Corp.
Info@ifbcorp.comMessage board http://bit.ly/1PdO88m