True Leaf Reports Strong Revenue Growth
True Leaf Medicine International Ltd., a plant-forward wellness brand for people and their pets, has unveiled results for its fiscal year ending March 31, 2018, including record sales of $1.4 million (CAD).
These results represent a 280 percent increase in revenue over the previous fiscal year ($368,536) and a 286 percent increase of fourth quarter sales year over year, from $99,331 to $383,844, said company officials.
Revenue growth was primarily fueled by True Leaf expanding the reach of its True Leaf Pet division to new locations in-store and online. True Hemp dog chews, dental sticks and supplement oils are now sold in more than 1,800 stores worldwide, including in Canada, the United States and Europe through retailers such as PetSmart Canada, Pets Corner U.K. and Amazon.
True Leaf Pet, a division of True Leaf, offers hemp-seed based pet supplements that provide calming support, promote hip and joint health, and help immune and heart function, according to officials.
“The strong revenue growth for True Leaf Pet demonstrates that pet owners worldwide want natural products with real health benefits for their pets,” said Darcy Bomford, founder and CEO of True Leaf in Vernon, British Columbia, Canada. “Customers return to our products because they see the results—they trust our products.”
True Leaf Pet sales increased by $1,031,975, or 280 percent, to $1.4 million (CAD) in Fiscal Year 2018, officials reported.