SOURCE: Bona Coffee Holdings Corp.

February 23, 2009 16:30 ET

BoNa Coffee Holdings Corp. Announces Record Revenues, Earnings

MANILA, PHILIPPINES--(Marketwire - February 23, 2009) - BoNa Coffee Holdings Corp. (PINKSHEETS: BCHC) announces that the Company's Philippine operations achieved record revenues and earnings in 2008. The Company, which began operations late in 2006, had 2008 revenues of 11,578,700 Philippine Pesos ($241,223 U.S.), vs. 2007 revenues of P 1,546,273 ($32,214 U.S.), an increase of nearly 749%. Net 2008 pre-tax earnings were P 8,677,114 ($180,773 U.S.) vs. P 1,022,781 ($21,379 U.S.) in 2007, an increase of 845.6%. In 2007, the Company had only one open BoNa Coffee Shop; now, the Company has three opened and has signed a Letter of Intent to open two more BoNa Coffee Shops. Other Company operations, such as its retail furniture store and its building (The Serenity Place), also began operations in 2008.

Jose Luis Gonzalez, BCHC's CEO, stated, "We were pleased with our growth last year, but it's only the beginning. In 2009, we fully expect revenues from our operations in the Philippines alone to exceed $1,000,000 U.S. We also expect to enter the U.S. markets with our BoNa Coffee and ancillary merchandise; and we are currently negotiating to begin operations in the United States."

BoNa Coffee Holdings Corp. (www.bonacoffeeholdingscorp.com), incorporated in the Philippines, is a holding company whose businesses consist of the BoNa Coffee Shops, furniture and jewelry stores, real estate, a casual wear clothing line, and a spa in Manila, Philippines. The home office of BoNa Coffee Holdings Corp. is Unit H, PSCOR Building, Elizalde Street, BF Commercial Plaza, Paranaque City, 1720 Philippines.

Contact Information

  • For further information, contact:
    BoNa Coffee Holdings Corp.
    Investor Relations
    1-888-536-1431