Trimax Corp (OTCMKTS:TMXN)
Shares of Trimax Corp (OTCMKTS:TMXN) are trading in a strong upward trend in the wake of the company and its wholly owned subsidiary, Saavy Naturals, reporting better than expected Q2 financial results. The stock was up 91.89% in Wednesday’s trading session to end the day at highs of $0.0355 per share.
The beauty company has registered five consecutive days of gains. Momentum build-up has helped push the stock from lows of $0.01 a share to current highs of $0.0355 a share. Wednesday’s rally helped reverse a strong downward trend that had pushed the stock to all-time lows. It now awaits to be seen if the stock will continue to edge higher in the wake of the stellar second quarter results.
Trimax Corp (OTCMKTS:TMXN) is a diversified company that offers a wide range of natural skin care products through its subsidiary Saavy Natural. The company also offers application development, technology consulting and cloud services. The company is also involved in organic farming.
Q2 Earnings Report
Trimax Corp (OTCMKTS:TMXN) generated gross revenues of $272,386 in the second quarter, representing a 62% increase from last year levels. Sales were up by 140% in the quarter as the company reported a 44% year to date increase in sales from $305,021 to $440,071.
In a bid to build up the sales momentum, Trimax Corp (OTCMKTS:TMXN) plans to increase marketing efforts around its beauty care products while also focusing on expanding distribution. The company has already signed an agreement that will result in the expansion of the body care line into Gelson’s markets. Gelson currently operates 25 full specialty stores in Southern California which should expand Trimax distribution footprint in pursuit of triple digit growth.
“We are extremely pleased with the triple digit growth we have been experiencing in 2017. We continue to work aggressively on establishing new channels of product distribution, as well as, reaching out to online consumers directly through various online sales campaigns,” said CEO, Hugo Saavedra.
In addition, the company has confirmed the appointment of Justin Miloro as the new Chief Operating Officer. He joins the company with 25 years of sales and executive management experience expected to be of great help as Trimax Corp (OTCMKTS:TMXN) embarks on an aggressive marketing and distribution diversification strategy.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.