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Hemptown Clothing Q3 revenues up 105%

16
Nov '05

World's largest hemp T-shirt apparel brand and seller Hemptown Clothing Inc leading provider of environmentally responsible apparel announced its financial results for the third quarter ending September 30, 2005.

- Company posts Income of $501,089 for nine month period ending September 30, 2005
- Revenues for the three month period ending September 30, 2005 up 105 percent over same period 2004.
- YTD sales up 15 percent over same period 2004.
- Gross margin up 28 percent for 3 month period ending September 30, 2005.
- Company and subsidiaries raised $1.8 Million dollars in Q3.
- New deal negotiated for debt instrument originally due in October 2005.

Hemptown CEO Jerry Kroll stated: 'With the raising of new capital and renegotiation of debt, the company is positioned to execute its business plan.

The continued development of 'CRAILAR' will begin in the Q4-2005 with testing at the Alberta Research Council pilot plant in November.'

Hemptown President Jason Finnis stated: 'New clothing designs and the accompanying development costs in Q3-2005 look to increase clothing sales in Q1-2006 as the new designs have been met with enthusiasm from customer base.'

Hemptown Clothing Inc was founded in 1995 in response to growing demand for environmentally friendly, socially responsible clothing.

The company supplies wholesale and private label customers throughout North America through offices in Vancouver B.C., Shanghai, China and Blaine, Washington.

Hemptown Clothing

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