Still in the red, Odd Burger ‘lazer focused’ on profitability

(Source: Odd Burger/Facebook)

Fast-food chain Odd Burger‘s net loss improved as revenue increased during the fiscal second quarter.

The vegan food chain’s net loss and comprehensive loss stood at $383,829 as revenue rose 8.5 per cent to $800,481.

“We are very proud of our second quarter results, where we posted a record gross profit of $298,162, which represents a gross margin of 37.25 per cent of sales,” said James McInnes, Odd Burger co-founder and CEO.

“We are lazer focused on driving Odd Burger towards profitability, and we are making tremendous progress towards this goal.”

McInnes said the Odd Burger’s opening of a restaurant in Edmonton, Alberta last May 11 witnessed record-breaking sales, with turnover in the succeeding weeks double the company’s expectations.

“With five additional franchise locations coming this summer alone, expanded consumer-packaged goods (CPG) distribution points, and a better-utilized manufacturing facility, we believe that profitability is within reach and will continue to improve as we scale our business,” said McInnes.

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