PTNYF - ParcelPal announces profitable operations in the U.S. beginning in June 2023
2023-07-17 10:53:52 ET
- ParcelPal Logistics ( OTCQB:PTNYF ) announced first-ever profitable month for U.S. operations beginning from June 2023 and expect U.S. operations to be profitable for rest of the year.
- The profitability was driven by a focus in further adjusting and improving FedEx operations, including resulting gross margins of approximately 18%. U.S. Amazon operations continue to be profitable as well.
- U.S. operations currently accounts for approximately 60% of total revenues.
- The Company is continuing to focus on our Canadian operations in parallel, including potential profitable customer diversification opportunities to achieve net profitability within our Canadian operations.
- PTNYF is +13.9% to $0.0131
- Source: Press Release
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ParcelPal announces profitable operations in the U.S. beginning in June 2023