Grand Havana, Inc. Announces 103% Sequential Revenue Increase for Second Quarter of 2021

Rhea-AI Summary

Grand Havana, Inc. (OTC PINK:GHAV) reported strong financial results for the second quarter of 2021, highlighting a 103% increase in total revenue and a 69% rise in product sales from its flagship Grand Havana Cafes. The gross profit margin also improved to 69%, up from 65% in Q1 2021. The company has completed all OTC Markets filing requirements and plans to announce a third cafe location soon. CEO Robert Rico expressed commitment to focusing on revenue growth moving forward.

Positive

• Total revenue increased by 103% in Q2 2021.
• Product sales rose by more than 69% from flagship cafes.
• Gross profit margin improved to 69% compared to 65% in Q1 2021.

Negative

• None.

MIAMI, FL / ACCESSWIRE / September 14, 2021 / Grand Havana, Inc. (OTC PINK:GHAV), is a specialty coffee company headquartered in Miami, Florida that owns the Grand Havana Cafes. The company offers a broad array of coffee products available in supermarkets, universities and online market places, today reported financial results for the second quarter 2021.

Q2 2021 Financial Highlights
The Company reported the following financial results for the second quarter 2021:

• Second quarter 2021 product sales from our flagship Grand Havana Cafe™ consolidated sales increased more than 69% percent.
• Second quarter 2021 total revenue increased more than 103% percent.
• Gross profit margin increased to 69% for the second quarter of 2021, compared sequentially to 65% for the first quarter of 2021 and to 5.17% for the second quarter of 2021.

In addition to our revenue increase we are pleased to announce that we have completed all requirements for OTC Markets filings by submitting the 2021 Q2 financial statements, disclosures and legal opinion.

Robert Rico, CEO of Grand Havana, Inc. states, "Grand Havana is pleased to say that we are officially current with our filings. We will continue to focus on revenues and will be announcing shortly the third location of our newest Grand Havana Cafe."

About Grand Havana, Inc.

Grand Havana is a specialty coffee company headquartered in Miami, Florida offering a broad array of coffee products and services. Grand Havana's Optimum Blend is available nationwide and proudly served in our corporate owned cafes Grand Havana Cafe, Mobile Coffee Truck and other locations including universities, supermarkets, cafes, convenience stores, hotels, and online marketplaces. We also offer a b2b solution that provides our coffee product paired with high quality coffee machines, reliable delivery, and timely technical service. Grand Havana is the consumer's brand of choice for the best tasting Cuban Style Espresso.

Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may, "will," "should," "plans," explores," expects," anticipates," continue," estimate," project," intend," and similar expressions. Forward-looking statements involve risks and uncertainties include, but not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and marketing, and various other factors beyond the Company's control.

For more information, visit www.Grandhavanacoffee.com, call 1.800.608.5441, or email orders@grandhavanacoffee.com Find out more about the company at www.Facebook.com/grandhavanacoffee, twitter.com/grandhavanacoffee1, or www.instagram.com/grandhavanacoffee/

CONTACT:

Robert Rico
Tel. 305-283-9237

SOURCE: Grand Havana, Inc.

View source version on accesswire.com:
https://www.accesswire.com/663915/Grand-Havana-Inc-Announces-103-Sequential-Revenue-Increase-for-Second-Quarter-of-2021

FAQ

What were Grand Havana's revenue results for Q2 2021?

Grand Havana reported a total revenue increase of over 103% for Q2 2021.

How much did product sales increase for Grand Havana in Q2 2021?

Product sales from Grand Havana's flagship cafes increased by more than 69% in Q2 2021.

What is the gross profit margin for Grand Havana in Q2 2021?

The gross profit margin for Grand Havana in Q2 2021 increased to 69%.

Has Grand Havana completed its OTC Markets filings?

Yes, Grand Havana has completed all requirements for OTC Markets filings.

What future plans does Grand Havana have following their Q2 results?

Grand Havana plans to announce the opening of its third cafe location soon.