|By Marketwired .||
|January 15, 2013 11:15 AM EST||
NEW YORK, NY -- (Marketwire) -- 01/15/13 -- Profit Planners Management, Inc. (OTCQB: PPMT) today announced financial results for fiscal 2012 for the six months ended November 31, 2012. Revenues were $453,210 compared to revenues of $187,700 in the prior year period a rise of 141%. Net profit for the first six months of the Company's fiscal 2012 was $18,000 as compared to a net profit of $14,700 for the first half of fiscal 2011.
For the quarter ended November 31, 2012 the Company posted quarterly revenue of $202,410 and a loss for the quarter of $(40,753). These results compare to revenue of $141,063 and net quarterly profit of $4,367 in the year-ago quarter. This represents a 43% increase in revenues. During the quarter, selling, general and administrative expenses rose substantially as the company developed its sports and entertainment practice and increased its presence in the South Florida market.
"We have continued to expand our company and its practice areas," said Wesley Ramjeet, PPMT's CEO. "We are focusing on increasing the customer base of the company, increasing the company's revenues and broadening our business areas. We now operate in five business areas: management services and advisory consulting; CFO, accounting and tax services; energy and telecom cost reduction and cost recovery; insurance and healthcare insurance services; and through our Unified Partners Group, we own and operate a business to business social media platform to help businesses grow and increase revenue through social networking. We are continuing to develop our company infrastructure, we expect to continue to add additional management in key areas, particularly in our Florida and West Coast offices and to continue growing our sports and entertainment advisory practice and through acquisitions nationwide," he added.
About Profit Planners Management, Inc.
Profit Planners Management, Inc. (OTCQB: PPMT) is a publicly traded company that provides management, financial, marketing and other professional services and business solutions. Members of our team of management professionals have both public accounting and industry experience, and many of them have successfully started and operated their own companies. This expertise allows our team to understand and then implement what a company needs to achieve its business goals. For more information, visit: www.profitplannersmgt.com
This press release contains forward-looking statements including without limitation those about the Company's estimated revenue and earnings per share. All statements other than statements of historical fact made in this report are forward looking. In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements. These forward-looking statements can be identified by the use of words such as "believes," "estimates," "could," "possibly," "probably," anticipates," "projects," "expects," "may," "will," or "should" or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward- looking statements reflect management's current expectations and are inherently uncertain. Our actual results may differ significantly from management's expectations.
Trudy M. Self
Self & Associates
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