July 30, 2021 – Mississauga, ON
Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) today reports its financial results for the second quarter ending May 31, 2021.
States John McKimm, President/CEO/CIO of Smart Employee Benefits Inc.:
“The second quarter, 2021 is the fifth consecutive quarter of positive EBITDA and Adjusted EBITDA. The trailing twelve months EBITDA was a positive $1.662M and adjusted EBITDA was $3.047M for the same period. Continued positive growth is targeted for the remainder of fiscal 2021 and beyond. Adjusted EBITDA and EBITDA improved significantly for the second quarter 2021 over the comparable period the previous year. Adjusted EBITDA for Q2/21 was $1.015M vs. $0.520M in Q2/20. EBITDA was $0.708M vs. $0.511M for the same periods. Consolidated gross margin percentage improved by 4.2% compared to the second quarter 2020 and 5.2% over the same 6-month period in fiscal 2020. Operating costs were up marginally for the quarter, but down $0.504M for the first half, year over year.
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