MC Global Holdings Experiences Dramatic Growth in Q1 2023

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May 16, 2023, 09:00 ET

GOLDEN, Colo., May 16, 2023 /PRNewswire/ -- MC Global Holdings, LLC ("MCG"), a Texas and Colorado-based LLC, has released Q1 financial results and guidance for the remainder of 2023 and annual 2024.

MCG reported strong revenue for Q1 as well as significant Net Income Growth and positive cash flow. Revenue and Net Income were 13% and 30% over budget respectively. Bret Worley, President of MC Global Holdings, was pleased with the continued growth in the European markets as this performance has been an important part of the steady growth of MCG and MC Wellness International Ltd. Q1 2023 marked the tenth consecutive quarter of positive cash flow from operations.

After quarter end, the MCG finance team completed a forecast through calendar year 2024. Those projections support the 2023 forecast, exceeding 2023 annual budgeted levels in Revenue and Net Income. Additionally, the forecast projected 2024 revenue levels to increase by 40% as compared to 2023, with significant growth in both domestic and foreign markets.

"These results further validate our business model and our continued expansion as the world's largest provider of hemp-derived minor cannabinoids," said Worley. "MCG's growth is supplemented by both the growth of the hemp minor cannabinoid markets and the increased market share MCG is obtaining."

About MC Global Holdings
MC Global Holdings was established to revolutionize the hemp wellness industry by being the leader in professionalism, promotion and distribution of responsibly-produced cannabinoids worldwide.

Websites:
www.MCGlobal.io
www.MCNutraceuticals.com
www.vivimu.com

SOURCE MC Global Holdings